MALACANANG is studying its next move after an arbitration tribunal ruled in favor of Maynilad Water Services, Inc., which has been claiming P3.4 billion from the government for losses it incurred following a delay in the implementation of its tariff scheme from 2013 to 2017, a spokesman said on Thursday.
In a statement, Ernesto Abella said the Office of the Executive Secretary (OES) has received the copy of the decision of the Singapore-based Arbitral Tribunal on the case that Maynilad filed against the Philippine government in 2015.
“The OES, together with the Office of the Solicitor-General, is now reviewing on how best to proceed with the decision,” Abella said.
In a statement on Tuesday, Maynilad said the three-member arbitral tribunal of the International Chamber of Commerce issued a decision dated July 24 “unanimously [upholding]the validity of Maynilad’s claim [for compensation]for the delayed implementation of its relevant tariffs for the rebasing period 2013 to 2017.”
The water service provider said the tribunal ordered the government, through the Department of Finance, to reimburse Maynilad in the amount of P3.42 billion for losses it incurred from March 11, 2015, to August 31, 2016.
The Tribunal also ruled that Maynilad was entitled to recover from the Philippine government its losses from September 1, 2016 onwards.
In case a disagreement on the amount of such losses arises, Maynilad may revert to the Tribunal for further determination.