Tuesday, September 5, 2017
Gov’t to fast-track subway plan
Project cost seen rising to as much as $7B; completion of first phase by 2022
Economic managers are expected to approve today a higher project cost for the first subway system in the country to fast-track its completion, the country’s chief economist said.
On the sidelines of the House plenary debates on the proposed P3.767-trillion 2018 national budget yesterday, Socioeconomic Planning Secretary Ernesto M. Pernia told the Inquirer that the National Economic and Development Authority’s Investment Coordination Committee-Cabinet Committee (ICC-CabCom) would discuss the project before forwarding it for the approval of the Neda Board chaired by President Duterte on Sept. 12.
Separately, Neda Undersecretary Rolando G. Tungpalan told the Inquirer that the final project cost would be firmed up during the Neda ICC-CabCom meeting.
Pernia earlier said that to allow completion of the Mega Manila Subway Project Phase 1 in 2022 instead of the previous target of 2024, the initial project cost of $4.4 billion could rise to $6-7 billion.
In June, Pernia disclosed to the Inquirer that the government was looking at securing the biggest official development assistance (ODA) from Japan for the subway system that would serve Metro Manila and surrounding areas.
Pernia had said that an estimated $4.4 billion in ODA from the Japan International Cooperation Agency (Jica) was in the pipeline to finance the Mega Manila subway project.
The Neda chief had said that they were expecting below 1-percent interest for the Jica loan payable over 20 years with a 15-year grace period.
According to the government’s “Build, Build, Build” website, the Department of Transportation-led subway project will connect major business hubs as well as government centers in Metro Manila through a 25-kilometer underground mass transportation system connecting Quezon City and Taguig City.
Meanwhile, the Department of Finance also yesterday enjoined local government units (LGUs) to tap a P2.58-billion revolving facility for projects to be undertaken through the public-private partnership (PPP) mode.
“The Project Development and Monitoring Facility (PDMF) can be utilized not only by LGUs but other national government agencies as well for fund support in conducting prefeasibility and feasibility studies, project structuring, preparation of bid documents and project monitoring for their proposed PPP initiatives,” the DOF said in a statement.
“Managed by the PPP Center, the PDMF also provides probity advisory services to ensure fairness, accountability and transparency in the procurement process for PPP projects,” the DOF added.
The PDMF started with a P300-million revolving fund and a $6-million (approximately P300 million) initial contribution from the Australian government. The Australian grant is administered by the Asian Development Bank.
The fund has since grown to about P2.58 billion as of end-July, according to the DOF, citing a recent report by the Privatization Office to Finance Secretary Carlos G. Dominguez III.
Read more: http://business.inquirer.net/236296/govt-fast-track-subway-plan#ixzz4rvTf8Dog
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
Economic managers are expected to approve today a higher project cost for the first subway system in the country to fast-track its completion, the country’s chief economist said.
On the sidelines of the House plenary debates on the proposed P3.767-trillion 2018 national budget yesterday, Socioeconomic Planning Secretary Ernesto M. Pernia told the Inquirer that the National Economic and Development Authority’s Investment Coordination Committee-Cabinet Committee (ICC-CabCom) would discuss the project before forwarding it for the approval of the Neda Board chaired by President Duterte on Sept. 12.
Separately, Neda Undersecretary Rolando G. Tungpalan told the Inquirer that the final project cost would be firmed up during the Neda ICC-CabCom meeting.
Pernia earlier said that to allow completion of the Mega Manila Subway Project Phase 1 in 2022 instead of the previous target of 2024, the initial project cost of $4.4 billion could rise to $6-7 billion.
In June, Pernia disclosed to the Inquirer that the government was looking at securing the biggest official development assistance (ODA) from Japan for the subway system that would serve Metro Manila and surrounding areas.
Pernia had said that an estimated $4.4 billion in ODA from the Japan International Cooperation Agency (Jica) was in the pipeline to finance the Mega Manila subway project.
The Neda chief had said that they were expecting below 1-percent interest for the Jica loan payable over 20 years with a 15-year grace period.
According to the government’s “Build, Build, Build” website, the Department of Transportation-led subway project will connect major business hubs as well as government centers in Metro Manila through a 25-kilometer underground mass transportation system connecting Quezon City and Taguig City.
Meanwhile, the Department of Finance also yesterday enjoined local government units (LGUs) to tap a P2.58-billion revolving facility for projects to be undertaken through the public-private partnership (PPP) mode.
“The Project Development and Monitoring Facility (PDMF) can be utilized not only by LGUs but other national government agencies as well for fund support in conducting prefeasibility and feasibility studies, project structuring, preparation of bid documents and project monitoring for their proposed PPP initiatives,” the DOF said in a statement.
“Managed by the PPP Center, the PDMF also provides probity advisory services to ensure fairness, accountability and transparency in the procurement process for PPP projects,” the DOF added.
The PDMF started with a P300-million revolving fund and a $6-million (approximately P300 million) initial contribution from the Australian government. The Australian grant is administered by the Asian Development Bank.
The fund has since grown to about P2.58 billion as of end-July, according to the DOF, citing a recent report by the Privatization Office to Finance Secretary Carlos G. Dominguez III.
Read more: http://business.inquirer.net/236296/govt-fast-track-subway-plan#ixzz4rvTf8Dog
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
Sad story of MRT3
The sad story that is the Metro Rail Transit Line 3 (MRT3) still has no happy ending in sight. More than a year since the Duterte administration promised to ease the plight of commuters, the fate of the train system traversing Edsa remains unclear.
The deterioration of the train system during the past administration has made it notorious for endless passenger queues and regular breakdowns, such that it became a campaign issue in the 2016 presidential election.
It’s not as if the government is doing nothing to fix the mess. Perhaps the problem has become so complicated that there is no single solution to it.
Aside from poor upkeep (due to frequent changes in maintenance contractors), there is the side issue of ownership as the government wants to take over from private shareholders.
Then there is this unsolicited proposal from private groups to rehabilitate MRT3. More importantly, there is the unusual quiet on the part of the Department of Transportation (DOTr) on what it has in mind for the train system.
Last week, Metro Pacific Investments Corp. revived an offer to buy out the government’s stake in MRT3. That offer was made in 2011 but was not acted upon as the Aquino administration decided to pursue the buyout itself, but failed.
This time, Metro Pacific boss Manuel V. Pangilinan seemed more optimistic about its P12.5-billion rehabilitation and upgrading proposal. Pangilinan was referring to the government’s interest in the privately held Metro Rail Transit Corp. (MRTC), the corporate owner of MRT3 led by Robert John Sobrepeña.
According to Pangilinan, his group conducted several meetings, at Metro Pacific’s initiative, with government representatives last month.
Ayala Corp. has also signaled its interest in joining Metro Pacific in its offer to rehabilitate MRT3, which serves about half a million passengers a day.
Ayala and Metro Pacific jointly operate the Light Rail Transit Line 1, which will be extended from Baclaran to Niog, Bacoor City by 2021. LRT1 serves around 400,000 commuters a day.
However, also last week, the private shareholders of MRT3 wanted President Duterte to step in and back their own bid to rehabilitate the congested railway line on Edsa.
MRTC president Frederick Parayno disclosed that his group had directly written Mr. Duterte due to the “inaction” of the DOTr on its $150-million offer to rehabilitate MRT3. He claimed that the main objective of MRTC’s proposal was to “fast-track” MRT3’s rehabilitation and bring back long-time maintenance provider Sumitomo Corp. of Japan.
It was during the Aquino administration that Sumitomo was replaced by various other groups, including the current maintenance provider, Busan Universal Rail Inc., which MRTC said was partly to blame for MRT3’s current condition. Aside from acknowledging receipt of the letter proposal submitted in April, the official said the DOTr has not replied to MRTC.
The government and MRTC are already embroiled in various legal cases involving the late payment of equity rentals and the acquisition by the previous Department of Transportation and Communications of new trains from China’s Dalian Locomotive and Rolling Stock Co.
Dalian had completed the delivery of 48 train coaches. But the DOTr noted in March that these could not be deployed due to power supply issues and the need to install a new signalling system required for the trains to operate safely.
As it stands now, the government is unclear on what path to take regarding MRT3. The DOTr cannot take forever to make a decision on this pressing problem that has long affected Metro Manila commuters. It must choose the best solution to MRT3’s deteriorating condition.
First, it must decide soon between the rehabilitation offers of the original stockholders — those people now entangled in legal disputes with the government — and the Metro Pacific-Ayala consortium that seems to be successfully rehabilitating and expanding LRT1. Commuters have long been suffering and deserve a break as soon as possible.
The deterioration of the train system during the past administration has made it notorious for endless passenger queues and regular breakdowns, such that it became a campaign issue in the 2016 presidential election.
It’s not as if the government is doing nothing to fix the mess. Perhaps the problem has become so complicated that there is no single solution to it.
Aside from poor upkeep (due to frequent changes in maintenance contractors), there is the side issue of ownership as the government wants to take over from private shareholders.
Then there is this unsolicited proposal from private groups to rehabilitate MRT3. More importantly, there is the unusual quiet on the part of the Department of Transportation (DOTr) on what it has in mind for the train system.
Last week, Metro Pacific Investments Corp. revived an offer to buy out the government’s stake in MRT3. That offer was made in 2011 but was not acted upon as the Aquino administration decided to pursue the buyout itself, but failed.
This time, Metro Pacific boss Manuel V. Pangilinan seemed more optimistic about its P12.5-billion rehabilitation and upgrading proposal. Pangilinan was referring to the government’s interest in the privately held Metro Rail Transit Corp. (MRTC), the corporate owner of MRT3 led by Robert John Sobrepeña.
According to Pangilinan, his group conducted several meetings, at Metro Pacific’s initiative, with government representatives last month.
Ayala Corp. has also signaled its interest in joining Metro Pacific in its offer to rehabilitate MRT3, which serves about half a million passengers a day.
Ayala and Metro Pacific jointly operate the Light Rail Transit Line 1, which will be extended from Baclaran to Niog, Bacoor City by 2021. LRT1 serves around 400,000 commuters a day.
However, also last week, the private shareholders of MRT3 wanted President Duterte to step in and back their own bid to rehabilitate the congested railway line on Edsa.
MRTC president Frederick Parayno disclosed that his group had directly written Mr. Duterte due to the “inaction” of the DOTr on its $150-million offer to rehabilitate MRT3. He claimed that the main objective of MRTC’s proposal was to “fast-track” MRT3’s rehabilitation and bring back long-time maintenance provider Sumitomo Corp. of Japan.
It was during the Aquino administration that Sumitomo was replaced by various other groups, including the current maintenance provider, Busan Universal Rail Inc., which MRTC said was partly to blame for MRT3’s current condition. Aside from acknowledging receipt of the letter proposal submitted in April, the official said the DOTr has not replied to MRTC.
The government and MRTC are already embroiled in various legal cases involving the late payment of equity rentals and the acquisition by the previous Department of Transportation and Communications of new trains from China’s Dalian Locomotive and Rolling Stock Co.
Dalian had completed the delivery of 48 train coaches. But the DOTr noted in March that these could not be deployed due to power supply issues and the need to install a new signalling system required for the trains to operate safely.
As it stands now, the government is unclear on what path to take regarding MRT3. The DOTr cannot take forever to make a decision on this pressing problem that has long affected Metro Manila commuters. It must choose the best solution to MRT3’s deteriorating condition.
First, it must decide soon between the rehabilitation offers of the original stockholders — those people now entangled in legal disputes with the government — and the Metro Pacific-Ayala consortium that seems to be successfully rehabilitating and expanding LRT1. Commuters have long been suffering and deserve a break as soon as possible.
MPIC unit allots P700 M for Cavitex expansion
Metro Pacific Investments Corp. (MPIC) unit Cavitex Infrastructure Corp. (CIC) is looking to spend P700 million to expand the Manila-Cavite Toll Expressway (Cavitex).
CIC president Luigi Bautista said in a briefing yesterday the company is investing about P700 million for enhancements at the Cavitex.
“We submitted the project information memorandum. This is like an investment proposal to TRB (Toll Regulatory Board) [in the] first quarter of this year. We haven’t received approval yet,” he said.
He said the expansion would involve adding one lane in each direction of the Cavitex.
“When we build that, imagine the convenience it will create. It will address 12 percent of existing volume,” he said.
An average of 140,000 vehicles use the Cavitex daily.
Apart from adding lanes, Bautista said CIC is also building a flyover along the expressway so that those coming from the south going to Pacific Drive would no longer have to stop at the traffic light.
The company is likewise improving the road surface of Pacific Drive or from R-1 to Macapagal.
Bautista said the expansion work could be completed within eight months once the firm secures approval from the government.
CIC wants to expand the Cavitex given fast growth in traffic volume.
Aside from the expansion at the Cavitex, it is also implementing other measures in the short-term to address the congestion in nearby entry points and exits of the tollway.
Among the short-term measures is the segregation of lanes with electronic toll collection lanes clustered to the right-most part of the toll plaza and the cash lanes on the left wing to help motorists plan their ingress to the toll road and eliminate lane swerving.
CIC is also undertaking a campaign to encourage motorists to shift to electronic toll payments from cash to prevent long queues at the toll plaza.
Aside from the Cavitex, MPIC operates other tollways such as the North Luzon Expressway (NLEX) and the Subic-Clark-Tarlac Expressway.
It is working on other tollway projects such as NLEX-South Luzon Expressway Connector Road, NLEX-Harbor Link Segment 10, Cavite-Laguna Expressway, C-5 South Link and Cebu-Cordova Link Expressway.
http://www.philstar.com/business/2017/09/05/1735778/mpic-unit-allots-p700-m-cavitex-expansion
CIC president Luigi Bautista said in a briefing yesterday the company is investing about P700 million for enhancements at the Cavitex.
“We submitted the project information memorandum. This is like an investment proposal to TRB (Toll Regulatory Board) [in the] first quarter of this year. We haven’t received approval yet,” he said.
He said the expansion would involve adding one lane in each direction of the Cavitex.
“When we build that, imagine the convenience it will create. It will address 12 percent of existing volume,” he said.
An average of 140,000 vehicles use the Cavitex daily.
Apart from adding lanes, Bautista said CIC is also building a flyover along the expressway so that those coming from the south going to Pacific Drive would no longer have to stop at the traffic light.
The company is likewise improving the road surface of Pacific Drive or from R-1 to Macapagal.
Bautista said the expansion work could be completed within eight months once the firm secures approval from the government.
CIC wants to expand the Cavitex given fast growth in traffic volume.
Aside from the expansion at the Cavitex, it is also implementing other measures in the short-term to address the congestion in nearby entry points and exits of the tollway.
Among the short-term measures is the segregation of lanes with electronic toll collection lanes clustered to the right-most part of the toll plaza and the cash lanes on the left wing to help motorists plan their ingress to the toll road and eliminate lane swerving.
CIC is also undertaking a campaign to encourage motorists to shift to electronic toll payments from cash to prevent long queues at the toll plaza.
Aside from the Cavitex, MPIC operates other tollways such as the North Luzon Expressway (NLEX) and the Subic-Clark-Tarlac Expressway.
It is working on other tollway projects such as NLEX-South Luzon Expressway Connector Road, NLEX-Harbor Link Segment 10, Cavite-Laguna Expressway, C-5 South Link and Cebu-Cordova Link Expressway.
http://www.philstar.com/business/2017/09/05/1735778/mpic-unit-allots-p700-m-cavitex-expansion
Sen. Villar on ‘In The Heart Of Business’
Despite her very busy schedule as chairman of various committees in the Senate, Sen. Cynthia Villar didn’t have qualms accepting Roni Merk’s invitation to co-host “In The Heart Of Business.” This year is a new radio program that airs every Tuesdays, Thursdays and Fridays, 12:30 to 1:30 p.m. on DWIZ 882. The show offers listeners a wide opportunity to know more about business and discusses varied topics on how one can start a business venture and become successful.
Aside from Sen. Villar and Merk, a bank executive and business communications specialist, the show also has as co-host seasoned broadcaster Marou Sarne, a KBP Golden Dove awardee who previously hosted “Business Is Our Business.”
Sen. Villar hosts every Tuesday. “She has a lot of programs and we discuss it on air,” Merk said. “Senator Villar talks about programs for farmers for every town, group and city. At present, she is on her way to accrediting over a thousand farm schools.”
Other segments on the radio show are “Insights” with seasoned business communications professional and professor Bong Osorio, travel and tourism, real estate, current news report on the stock market, health and wellness, and one by the Veterans Bank, among others.
At present, “In The Heart Of Business” airs for one hour, three times a week on DWIZ. The station is owned and managed by Edgar Cabangon, son of Ambassador Antonio Cabangon-Chua.
• • •
‘My Puhunan’ turns four
A barrio boy turned international fashion designer, a grillery chain owner who started out as a waiter, a mother and son whose neighborhood burger joint has grown into a full-fledged franchise – they are just three of the many successful Filipino entrepreneurs who have been featured by Karen Davila on ABS-CBN’s “My Puhunan.”
Now on its fourth year, the program continues to transform the lives of many Filipinos by encouraging them to start their own businesses even with just a small capital. Just like “Lugaw Queen” Beverly Aquino, who started with only P1,000 capital and now earning more than P50,000 a day.
“What I love about the show is that it changes the mindset of Filipinos that you need to work overseas to earn money and prosper. We show them that even with a small capital or through using one’s gift of gab or talent, one can be successful. I am learning from the program myself and now I want to have my own business,” Karen shared.
To celebrate its fourth anniversary, Davila and the program recently brought their “Kabuhayan Caravan” to a barangay in Caloocan to conduct livelihood seminars for people in search of new or additional source of income for their families.
Among those who became successful entrepreneurs through “My Puhunan” include Joemel Calma who is dressing up celebrities abroad and Remilly Co, who now has over 20 branches of her cake brand.
“My Puhunan” airs Tuesdays, 9:30 p.m. on DZMM TeleRadyo and after “Bandila” on ABS-CBN and ABS-CBN HD.
• • •
Aside from Sen. Villar and Merk, a bank executive and business communications specialist, the show also has as co-host seasoned broadcaster Marou Sarne, a KBP Golden Dove awardee who previously hosted “Business Is Our Business.”
Sen. Villar hosts every Tuesday. “She has a lot of programs and we discuss it on air,” Merk said. “Senator Villar talks about programs for farmers for every town, group and city. At present, she is on her way to accrediting over a thousand farm schools.”
Other segments on the radio show are “Insights” with seasoned business communications professional and professor Bong Osorio, travel and tourism, real estate, current news report on the stock market, health and wellness, and one by the Veterans Bank, among others.
At present, “In The Heart Of Business” airs for one hour, three times a week on DWIZ. The station is owned and managed by Edgar Cabangon, son of Ambassador Antonio Cabangon-Chua.
• • •
‘My Puhunan’ turns four
A barrio boy turned international fashion designer, a grillery chain owner who started out as a waiter, a mother and son whose neighborhood burger joint has grown into a full-fledged franchise – they are just three of the many successful Filipino entrepreneurs who have been featured by Karen Davila on ABS-CBN’s “My Puhunan.”
Now on its fourth year, the program continues to transform the lives of many Filipinos by encouraging them to start their own businesses even with just a small capital. Just like “Lugaw Queen” Beverly Aquino, who started with only P1,000 capital and now earning more than P50,000 a day.
“What I love about the show is that it changes the mindset of Filipinos that you need to work overseas to earn money and prosper. We show them that even with a small capital or through using one’s gift of gab or talent, one can be successful. I am learning from the program myself and now I want to have my own business,” Karen shared.
To celebrate its fourth anniversary, Davila and the program recently brought their “Kabuhayan Caravan” to a barangay in Caloocan to conduct livelihood seminars for people in search of new or additional source of income for their families.
Among those who became successful entrepreneurs through “My Puhunan” include Joemel Calma who is dressing up celebrities abroad and Remilly Co, who now has over 20 branches of her cake brand.
“My Puhunan” airs Tuesdays, 9:30 p.m. on DZMM TeleRadyo and after “Bandila” on ABS-CBN and ABS-CBN HD.
• • •
Tidbits: Happy b-day greetings today, Sept. 5, go to Reps. Rudy Fariñas and Gilbert Cesar A. Remulla, Solar Group’s head honcho Wilson Tieng, Dr. Amable “King” Aguiluz V, Jojo Zabarte, Princess Anne Timbang, Tessie Amparo, Loretta Galang, Mayen L. Saporsantos, US-based Eliza Gotico, Bobby del Rosario, Patricia Panlilio, Mags Gahol, Brian Homoroc, Mona Esguerra, Janina M. dela Peña, Baby Atienza, Evangeline Pio de Roda-Sy, Margie Ongkeko of Manulife, and Priscilla Meirelles (Mrs. John Estrada)…Belated b-day greetings to Chellouz Valdez, Terrence Perez, Leo Consul, Ariel Rivera and Alexandra Germay Marcelo Oxales (Sept. 1)…Sept. 6: awarded director Jeffrey Jeturian, Mylene Dizon, UP Prof. Letty H. Tison, Joanne de Asis-Benitez, Annie Salonga, Sylvia Lina, Ma. Cristina Herella, Rosie Romey, Rodrigo V. Palma of California, Cecile Tiangco, Gerard K. Gozon, Ditas Hilario, Ricky Barbiero, Anna Cecilia “AC” S. Javier, Prof. Rene Durian, Sonia Nunez, Ed de Leon, Liwayway C. Bartolome of Bakersfield, CA, Ed de Leon, Carmen Yorac Cheung, Tessa Prieto-Valdes, Ronnie Nolasco, Marjory Acosta Tagarao, James Dionisio, Joyce So, John Manalo of Star Magic and Kaye Villagomez… It’s Rev. Fr. Cornelio L. Matanguihan’s priesthood anniversary today…
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