Manila Water Company, Inc. and Maynilad Water Services, Inc. said they would no longer collect the almost P11 billion indemnification. | PathRoxasINQ
Manila Water President and Chief Executive Officer Jose Rene Almendras told lawmakers during a hearing at the House of Representatives that they would no longer implement the recent arbitration ruling that compelled the government to pay them P7.4 billion.Likewise, Maynilad President and CEO Ramoncito Fernandez made the same commitment about the 2017 arbitral decision that also asked the government to pay them P3.4 billion. He said they had stopped from demanding the payment in the past years.
The water concessionaires drew the ire of President Rodrigo Duterte after Manila Water won its case against the government before the Permanent Court of Arbitration for blocking its water rate hikes.
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