CIC to seek arbitration on toll rates

THE waiting game between Metro Pacific Investments Corp. (MPIC) and the Toll Regulatory Board (TRB) has pushed the conglomerate to file a second arbitration case against the government on the long overdue approval of toll rate adjustments.

MPIC through its toll road operation unit Cavitex Infrastructure Corp. (CIC) on Friday issued a Notice of Arbitration and Statement Claim to TRB after the government apparently put off the approval of toll rate adjustment petitions that were filed a couple of years ago.