outbrain
Close  

Arbitration panel: PH gov’t should pay Manila Water P7.4B

/ 11:37 AM November 29, 2019

MANILA, Philippines – Manila Water Co. Inc. on Friday said the Permanent Court of Arbitration in Singapore ruled that the Philippine government must indemnify the company P7.39 billion for losses incurred due to the non-implementation of rate hikes.

“The Tribunal ruled that Manila Water has a right to indemnification for actual losses suffered by it on account of the (government’s) breach of its obligation,” Manila Water said in a disclosure.

ADVERTISEMENT

The company said the indemnity covers losses Manila Water suffered from June 1, 2015 until Nov 22, 2019 — or the period that water regulators did not implement water rate hikes that were supposed to be implemented in the previous rate rebasing period.

The dispute, mediated by the International Chamber of Commerce, stemmed from a proposal of Manila Water for a rate hike of P5.83 per cubic meter, which the Metropolitan Waterworks and Sewerage System countered with an order for a rate cut of P1.48 per cu.m. — which the MWSS itself questioned and withheld.

FEATURED STORIES

GSG

Subscribe to Inquirer Business Newsletter
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Manila Water, Permanent Court of Arbitration, Philippine government
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.