Govt reviews another onerous deal
Credit to Author: Mayvelin U. Caraballo, TMT| Date: Mon, 20 Jan 2020 16:17:58 +0000
The government is reviewing another onerous deal with a private firm covering the real estate sector, Finance Secretary Carlos Dominguez 3rd said.
In an interview, Dominguez told reporters that he was the one who actually endorsed for the review of the deals signed by the government with private entities.
“Actually, I endorsed to review all contracts that may have onerous provisions. In fact, we have one that we found [to be onerous],” he said.
Asked for further details about the deal, Dominguez explained that it involves the real estate sector.
“It’s real estate. It is something that has been more than 40 years old. [But] not [in] Manila,” he said, without disclosing further details.
Dominguez’s latest revelation followed a recent statement made by Palace spokesman Salvador Panelo regarding an onerous contract between the government and Ayala Corp.
On Sunday, Panelo warned the Ayala Technohub might undergo investigation for paying low rent for the government’s property at the University of the Philippines in Diliman, Quezon City.
Late last year, President Rodrigo Duterte also accused Ayala Corp. of having an onerous deal from its water distribution contract with the government.
Last Friday, President said the contract for the Light Rail Transit Line 1 would also be reviewed.