Header AD

P*t*ng ina mo Ayala! L*ch* ka Pangilinan! Duterte threatens to take over Manila Water, Maynilad

Fernando Zobel to Duterte: We’ll make sure gov’t, customers won’t pay P7.4B arbitral award
Bilyonaryo Fernando Zobel del Ayala backs down after President Duterte's tirades against his scheming firm.

Which should explain why one of the country’s richest men struck a groveling tone in his letter to appease President Rodrigo Duterte who fulminated against the Ayala-owned Manila Water Co.’s demand for P7.4 billion compensation for its losses from the government’s move to block water rate hikes.

Walang areglo! Duterte to pursue plunder vs Salim-Consunji, Ayalas but doubts if they will pay trillions owed to govt

In a December 10 letter to the President, Zobel stated twice that Manila Water would not pursue its demand for compensation. “We will not collect the P7.39 billion arbotral award…We will work closely with the proper government agency to make sure that the P7.39 billion arbitral award will not have to be paid by the government directly or through customers,” wrote Zobel.

P*t*ng ina mo Ayala! L*ch* ka Pangilinan! Duterte threatens to take over Manila Water, Maynilad

“We fully share your mandate to put the interest of the people as the primary objective,” he added.

Aside from the compensation awarded by a Singapore court, Zobel said Manila Water would immediately start negotiations to “identify provision that are considered illegal, onerous or disadvantageous to the government in our water concession agreement.”

Zobel also agreed to defer the water rate hike approved by the Metropolitan Waterworks and Sewerage System.

P*t*ng ina mo Ayala! L*ch* ka Pangilinan! Duterte threatens to take over Manila Water, Maynilad P*t*ng ina mo Ayala! L*ch* ka Pangilinan! Duterte threatens to take over Manila Water, Maynilad Reviewed by AsianPolicy.Press on 12:36:00 PM Rating: 5

Post AD