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Veteran Author Reveals Possible Reasons Why Maynilad & Manila Water Extended Their Contracts Way Before Expiration


Veteran author and prominent political analyst Jose Alejandrino revealed some possible reasons why the controversial water concessionaire Maynilad and Manila Water extended their contracts with the Philippine government way before expiration.


According to Alejandrino, it doesn't surprise him that the water companies worked for an extension of their contracts way before their expiration, it is because they found water to be a gold mine.



Since water is a basic necessity which people could not go without, they squeezed every ounce of it which they made government and taxpayers pay.

The Philippine government could not interfere in the fixing of water rates in the country. They passed the payment of their income tax to consumers.

When the Duterte administration could not interfere in the fixing of water rates, the water companies went to the Singapore Arbitration Tribunal or remedy which resulted into the government being fined billions of pesos which taxpayers would have to shoulder.

According to the expose of Alejandrino, the water turned into a goldmine for Maynilad and Manila Water as they turned the natural resources into a commodity. A gold mine which is worth around P12-Billion a year in income.

The reasons why Maynilad and Manila Water already extended the contract way before expiration is because of the fact that in the near future, one bright guy could simply discover their 'onerous' deals and so the water companies wanted to play safe.



Read the Complete Statement of Jose Alejandrino:

A GOLD MINE
by Jose Alejandrino

It doesn’t surprise me the water companies worked for an extension of their contracts way before their expiration date. The reason is they found water to be a gold mine. Since water is a basic necessity which people could not go without, they squeezed every ounce of it which they made government and taxpayers pay.

Government could not interfere in the fixing of water rates. They passed the payment of their income tax to consumers. When government interfered, they went to the Singapore Arbitration Tribunal for remedy. The Philippine government was fined billions of pesos which taxpayers would have to shoulder.

A gold mine, water was which Maynilad and Manila Water turned into a commodity than a natural resource which under Article XII, Sec. 2, of the 1987 Constitution, mandated the government to fully control and supervise. The contracts were therefore null and void ab initio because they clearly violated the constitutional mandate by curtailing the sovereign power of the government.

How much of a gold mine? The profits of Manila Water and Maynilad totalled 119.5-billion pesos over a period of 10 years from 2009 to 2018. This averages nearly 12-billion a year.



We are told their contracts were extended up to 2037, way before they even expired. From 2019 to 2037 is another 19 years. Based on an average of 12-billion a year, the profits of Manila Water and Maynilad from 2009 to 2037 could conceivably reach 448-billion pesos during the 29 years.

The equivalent of nearly $10-billion profitable water belonging to the people which the people were being made to pay. The people were being fried in their own lard!

Why were the contracts extended much before their expiration dates? My guess is because one bright day some bright guy may discover their onerous terms and so the water companies wanted to play safe. And who advised them? A special counsel who knew and was familiar with the terms of the contracts.

And who might that special counsel be? Most likely the senator who warned Duterte not to review the contracts because it could cost the government billions of pesos tinkering with them. Logically, that senator would only know its terms if he had a hand in crafting them.

As I wrote before, when a contract is disadvantageous to the government and is injurious to the public interest, it is sufficient ground to suspect there was collusion and corruption.

Source: Facebook 


Veteran Author Reveals Possible Reasons Why Maynilad & Manila Water Extended Their Contracts Way Before Expiration Veteran Author Reveals Possible Reasons Why Maynilad & Manila Water Extended Their Contracts Way Before Expiration Reviewed by Phil Newsome on 12/09/2019 Rating: 5

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