BCDA confident of SCTEx contract approval
The Bases Conversion and Development Authority (BCDA) said the chances that its “done deal” with Manuel V. Pangilinan for the Subic-Clark-Tarlac Expressway (SCTEx) would be scrapped by Malacañang were slim despite talks of a possible third trip to the negotiating table.
BCDA Chair Felicito Payumo confirmed reports that certain members of the Cabinet, led by Finance Secretary Cesar Purisima, had questioned certain provisions of the SCTEx deal relating to the government’s share in gross revenues.
“This is part of the process we agreed on with the Pangilinan group, that this will still be subject to Malacañang’s approval,” Payumo said in a recent interview.
Metro Pacific Tollways Corp. (MPTC), chaired by Pangilinan, earlier won the contract to operate and maintain the SCTEx for 25 years. Despite having already agreed on the terms, the BCDA called for a review of the contract.
After initial protests, MPTC eventually conceded to giving the BCDA huge advances to help the agency meet payments to the Japan International Cooperation Agency (Jica), which funded the SCTEx’s construction through a low-interest overseas development assistance (ODA) loan.
The latest version of the deal was submitted for Malacañang’s approval last year, but President Aquino has not acted on it. “This has been endorsed by all departments. Some just want to fine-tune the deal,” Payumo said.
BCDA president Arnel Casanova said he was confident that MPTC would be willing to renegotiate the contract and agree to more concessions, if necessary. “I don’t think this will be a deal breaker,” Casanova said.
The SCTEx contract is just one of several Pangilinan-group projects that have stalled under the Aquino administration. Metro Pacific Investments Corp. currently has a proposal to expand the Metro Rail Transit (MRT) line on Edsa. MPIC owns a majority stake in the MRT line’s build-lease-transfer (BLT) contract holder, MRT Corp.
MPTC, which is a unit of MPIC, also has a proposal to build an elevated highway called the “connector road” that would link the Metro Manila Skyway with the North Luzon Expressway (NLEx).
Neither the MRT nor the “connector road” proposals have been acted upon by the departments concerned. Diversifying conglomerate San Miguel Corp. has competing offers for both Pangilinan proposals.
