ILOILO CITY — Former Iloilo City mayor Jed Patrick Mabilog has defended the 2012 joint venture agreement (JVA) for the Iloilo-Guimaras Ferry Terminal Services at Parola Wharf, arguing that the project is beneficial to the city and aligned with sound economic principles.
ILOILO CITY — Former Iloilo City mayor Jed Patrick Mabilog has defended the 2012 joint venture agreement for the Iloilo-Guimaras Ferry Terminal Services at Parola Wharf , arguing that the project is beneficial to the city and aligned with sound economic principles.Mabilog's statement comes after the current city administration, under Mayor Jerry Treñas, announced plans to renegotiate the JVA, citing provisions that are allegedly disadvantageous to Iloilo City.
He said that DDPC took on this risk when there was no guarantee of success, a reality that he argued critics failed to acknowledge.He pointed out that the P126 million investment has now surged to at least P250 million, citing the rapid increase in property value in Iloilo City.'If the city were to rebuild that terminal now, the cost would likely exceed P250 million.
Defends Deal For Iloilo-Guimaras Wharf
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