THE Manila Water Co. Inc. and Maynilad Water Services Inc. on Tuesday said they would no longer insist on the implementation of the decision of an arbitral tribunal ordering the Philippine government to pay them billions of pesos in penalty amid the threats hurled by President Rodrigo Duterte to fight the ruling and file charges against the water concessionaires over the “onerous” water agreements.
During the hearing of the Committee on Good Government and Public Accountability and the Committee on Public Accounts at the House of Representatives, the chief executives of the water companies announced that they would no longer push for the payment of the monetary award. They also agreed to defer the water rate hikes to be implemented in January 2020 and to negotiate with the government in amending the “onerous” provisions of their concession agreements.