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Asking for more trouble FRONTLINE Ninez Cacho-Olivares 04/27/2011

Wednesday, April 27, 2011

Asking for more trouble

FRONTLINE
Ninez Cacho-Olivares
04/27/2011
Noynoy can forget about his public-private partnership (PPP) program and his claims of foreign investors flooding the Philippines in a bid for big ticket projects under his administration, not when he again proves to the world of big foreign business that he, like Gloria Arroyo before him, refuses to honor contracts that have already been approved by government.

To this day, Noynoy has not settled the compensation issue with the owners of NAIA 3 terminal, despite government’s expropriation of the airport terminal, even if his administration is violating the ruling of the Supreme Court (SC) that bans government from exercising ownership rights.

This incidentally, is the major reason foreign investments have been too slow in coming.

Yet Noynoy compounds this problem by unilaterally cancelling a project that had already been approved by two Justice secretaries, one of whom is his: The P18.7-billion contract with the Baggerwerken Decloedt en Zoon (BDC) firm for the dredging of Laguna Lake..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20110427com2.html

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