Lawmakers urged yesterday the Duterte administration to study all options that would make the operation and maintenance of Metro Rail Transit Line 3 (MRT) more reliable and efficient.
Catanduanes Rep. Cesar Sarmiento, chairman of the House Committee on Transportation, said the government can consider at least three options for the MRT 3 to improve its services.
“Government has options to make the operation and maintenance of MRT3 more reliable. It can takeover the system by Equity Value Buyout then privatize it, it can roll-out a long-term maintenance contract that will coincide with the life of the present MRT BLT (Built-Lease-Transfer) Agreement or it can consider unsolicited proposals to improve the system made by private parties,” he said.
“Whatever it is, government has to choose from one of these options and execute it immediately,” he said.
He made such proposals after infrastructure giant Metro Pacific Investments Corp. renewed its bid to buy out the government’s interest in MRT 3.
For his part, Eastern Samar Rep. Ben Evardone, chairman of the House Committee on Banks and Financial Intermediaries, backed the privatization of the MRT 3 to improve its services.
“Congress should support the bid of Metro Pacific Investments Corp. of Manny Pangilinan to buy out the 77 percent stake of the government in MRT 3. To me, this is the best solution to improve the services of MRT 3,” he said.
The Development Bank of the Philippines and Land Bank of the Philippines hold about 77 percent of Metro Rail Transit Corp.’s (MRTC) economic rights.
“MRT 3 should be privatized to make it more efficient as a public mass transport system,” Evardone stressed.
Metro Pacific chairman Manuel V. Pangilinan earlier said they are prepared to do the buy out and rehabilitate and upgrade the MRT-3, which may cost some R12.5 billion.
Meanwhile, AKO BICOL party-list Rep. Rodel Batocabe, president of the House party-list bloc, called on the Duterte administration to carefully scrutinize Metro Pacific’s offer.
“The government should carefully study the offer considering that this involves public transportation which must have a social responsibility aspect rather a purely for profit venture,” he said.
MRT 3 caters to about half a million passengers a day.
http://news.mb.com.ph/2017/08/26/govt-prodded-on-mrt-3-rehab-privatization-eyed/
Catanduanes Rep. Cesar Sarmiento, chairman of the House Committee on Transportation, said the government can consider at least three options for the MRT 3 to improve its services.
“Government has options to make the operation and maintenance of MRT3 more reliable. It can takeover the system by Equity Value Buyout then privatize it, it can roll-out a long-term maintenance contract that will coincide with the life of the present MRT BLT (Built-Lease-Transfer) Agreement or it can consider unsolicited proposals to improve the system made by private parties,” he said.
“Whatever it is, government has to choose from one of these options and execute it immediately,” he said.
He made such proposals after infrastructure giant Metro Pacific Investments Corp. renewed its bid to buy out the government’s interest in MRT 3.
For his part, Eastern Samar Rep. Ben Evardone, chairman of the House Committee on Banks and Financial Intermediaries, backed the privatization of the MRT 3 to improve its services.
“Congress should support the bid of Metro Pacific Investments Corp. of Manny Pangilinan to buy out the 77 percent stake of the government in MRT 3. To me, this is the best solution to improve the services of MRT 3,” he said.
The Development Bank of the Philippines and Land Bank of the Philippines hold about 77 percent of Metro Rail Transit Corp.’s (MRTC) economic rights.
“MRT 3 should be privatized to make it more efficient as a public mass transport system,” Evardone stressed.
Metro Pacific chairman Manuel V. Pangilinan earlier said they are prepared to do the buy out and rehabilitate and upgrade the MRT-3, which may cost some R12.5 billion.
Meanwhile, AKO BICOL party-list Rep. Rodel Batocabe, president of the House party-list bloc, called on the Duterte administration to carefully scrutinize Metro Pacific’s offer.
“The government should carefully study the offer considering that this involves public transportation which must have a social responsibility aspect rather a purely for profit venture,” he said.
MRT 3 caters to about half a million passengers a day.
http://news.mb.com.ph/2017/08/26/govt-prodded-on-mrt-3-rehab-privatization-eyed/
