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THE Department of Finance (DOF) expects the sale next
year of Food Terminal Inc. (FTI) to generate half of its programmed
revenues from the sale of state assets.
Finance Undersecretary
Crisanta S. Legazpi said that an earlier appraisal of the
120-hectare property valued it at P15 billion, but added that this
has to be updated.
“Not all of it will [be]
auction[ed] off, but the bulk of it. The mode that they are
considering is land sale,” she said.
“Real-estate developers
are eyeing FTI because it can be [a] commercial or residential
development [or a] mixed use,” she added.
Next year, the finance
department expects to raise P30 billion from the government’s
privatization prog-ram. This is lower than the expected P86.1
billion from asset sales this year.
“This will comprise of
FTI, other real-estate properties like Fujimi property in Japan. The
Philippine National Oil Company-Exploration Corp. isn’t included
in this,” Legazpi said.
Aside from FTI, Legazpi said that
other government assets that will be auctioned off include the Old
Penitentiary lot in Muntinlupa, as well as the state’s stake in
Manila Electric Co. and in San Miguel Corp.
The Fujimi property is
valued at P1.3 billion while the Muntinlupa property has yet to be
valued.
--Chino S. Leyco
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