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Dominguez: Real estate deal with ‘onerous’ provisions up for review

/ 04:06 AM January 21, 2020

There’s no stopping the Duterte administration from reviewing allegedly “onerous” contracts that the government had entered into, with another long-standing contract involving prime real estate up for scrutiny.

Finance Secretary Carlos G. Dominguez III, who heads the Duterte administration’s economic team, told reporters Monday that he had “endorsed to review all contracts that may have onerous provisions.”

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“In fact, we have one that we found. I will give you all the details [soon],” Dominguez said.

Asked in which sector was the contract with onerous provisions found, Dominguez replied: “Real estate.”

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The finance chief said the contract had been going on for “more than 40 years.”

He added that the property was not in Manila.

President Duterte had ordered to review the contracts with the two water concessionaires in Metro Manila and nearby areas as these had been allegedly laden with “onerous provisions” that were disadvantageous to taxpayers.

Dominguez had defended the administration’s move to review contracts with private corporations, saying that “it should be a signal to everybody that the private sector and the government are working together for the benefit of the nation, of all the taxpayers.” —Ben O. de Vera

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TAGS: Business, Carlos G. Dominguez III, Real Estate
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