Economy council okays 10-year extension of Maynilad, Manila Water concession deals
The extension is expected to generate additional government revenues amounting to P50.3 billion, according to the Economic Planning Department.
The Economy and Development (ED) Council, formerly known as the NEDA (National Economic and Development Authority) Board, has approved the 10-year extension of the concession agreements with Maynilad Water Services Inc. and Manila Water Company Inc.
In a statement, the Department of Economy, Planning, and Development (DEPDev) said the ED Council, chaired by President Ferdinand "Bongbong" Marcos Jr., held its inaugural meeting on June 18.
During its inaugural meeting, the ED Council approved the request of the Metropolitan Waterworks and Sewerage System (MWSS) to extend the Revised Concession Agreements of the two major water service providers.
The move aims to ensure sustained access to safe, reliable, and affordable water for Metro Manila and surrounding provinces, according to the DEPDev.
The CA extension —from July 31, 2037, to January 21, 2047—aligns the contracts with the legislative franchises of both concessionaires, as mandated by Republic Act (RA) Nos. 11600 and 11601.
The DEPDev said the extension is expected to accelerate capital investments, minimize tariff pressures, and secure a long-term water supply.
It is also projected to generate additional government revenues amounting to P50.3 billion, according to the Economic Planning Department.
'Ensuring water security is fundamental to fostering economic growth and improving the quality of life for our growing population," ED Council vice chairperson and Economics Secretary Arsenio Balisacan said.
"By aligning the concession agreements with legislative franchises, we are promoting policy coherence and long-term investment planning in the water sector, which are essential for delivering clean, reliable, and affordable water services to millions of Filipinos,' he added.
Apart from the extension of the water concession deals, the ED Council also approved two new infrastructure projects, which would be financed through Official Development Assistance (ODA).
One of the approved projects is the P27.7-billion Farm-to-Market Bridges Development Program of the Department of Agriculture.
Under the program, the DA aims to construct 300 climate-resilient modular steel bridges across 52 provinces in 15 regions.
'By improving physical connectivity in farming and fishing communities, the Farm-to-Market Bridges Development Program addresses persistent infrastructure gaps that limit market access, increase post-harvest losses, and hinder rural productivity," Balisacan said.
"It also aims to uplift rural incomes and improve food logistics, particularly in geographically isolated and disadvantaged areas,' he added.
The ED Council also approved the P5.1-billion Liloan Bridge Construction Project of the Department of Public Works and Highways (DPWH).
The project involves constructing a four-lane, 721-meter bridge connecting Panaon Island to mainland Leyte, replacing the deteriorated existing structure.
The bridge project is expected to improve mobility and access for residents and travelers in the municipalities of Liloan, San Francisco, Pintuyan, and San Ricardo, while stimulating local economic activity and job creation in the region.
'The inaugural meeting of the Economy and Development Council sets the tone for a more integrated and responsive approach to development planning and investment programming," Balisacan said.
"By strengthening water resources, agricultural productivity, and infrastructure connectivity, we aim to unlock greater economic opportunities and foster inclusive growth for more communities across the country," he added.
The ED Council was established following the enactment of RA No. 12145, also known as the Economy, Planning, and Development Act, which took effect on April 27.
The newly reorganized council retained the original members of the NEDA Board and added the Secretaries of the Department of Health, Department of the Interior and Local Government, and Department of Labor and Employment as new members.
RA No. 12145 reorganized the National Economic and Development Authority or NEDA into the Department of Economy, Planning, and Development. –NB, GMA Integrated News
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Economy council okays 10-year extension of Maynilad, Manila Water concession deals
The extension is expected to generate additional government revenues amounting to P50.3 billion, according to the Economic Planning Department. The Economy and Development (ED) Council, formerly known as the NEDA (National Economic and Development Authority) Board, has approved the 10-year extension of the concession agreements with Maynilad Water Services Inc. and Manila Water Company Inc. In a statement, the Department of Economy, Planning, and Development (DEPDev) said the ED Council, chaired by President Ferdinand "Bongbong" Marcos Jr., held its inaugural meeting on June 18. During its inaugural meeting, the ED Council approved the request of the Metropolitan Waterworks and Sewerage System (MWSS) to extend the Revised Concession Agreements of the two major water service providers. The move aims to ensure sustained access to safe, reliable, and affordable water for Metro Manila and surrounding provinces, according to the DEPDev. The CA extension —from July 31, 2037, to January 21, 2047—aligns the contracts with the legislative franchises of both concessionaires, as mandated by Republic Act (RA) Nos. 11600 and 11601. The DEPDev said the extension is expected to accelerate capital investments, minimize tariff pressures, and secure a long-term water supply. It is also projected to generate additional government revenues amounting to P50.3 billion, according to the Economic Planning Department. 'Ensuring water security is fundamental to fostering economic growth and improving the quality of life for our growing population," ED Council vice chairperson and Economics Secretary Arsenio Balisacan said. "By aligning the concession agreements with legislative franchises, we are promoting policy coherence and long-term investment planning in the water sector, which are essential for delivering clean, reliable, and affordable water services to millions of Filipinos,' he added. Apart from the extension of the water concession deals, the ED Council also approved two new infrastructure projects, which would be financed through Official Development Assistance (ODA). One of the approved projects is the P27.7-billion Farm-to-Market Bridges Development Program of the Department of Agriculture. Under the program, the DA aims to construct 300 climate-resilient modular steel bridges across 52 provinces in 15 regions. 'By improving physical connectivity in farming and fishing communities, the Farm-to-Market Bridges Development Program addresses persistent infrastructure gaps that limit market access, increase post-harvest losses, and hinder rural productivity," Balisacan said. "It also aims to uplift rural incomes and improve food logistics, particularly in geographically isolated and disadvantaged areas,' he added. The ED Council also approved the P5.1-billion Liloan Bridge Construction Project of the Department of Public Works and Highways (DPWH). The project involves constructing a four-lane, 721-meter bridge connecting Panaon Island to mainland Leyte, replacing the deteriorated existing structure. The bridge project is expected to improve mobility and access for residents and travelers in the municipalities of Liloan, San Francisco, Pintuyan, and San Ricardo, while stimulating local economic activity and job creation in the region. 'The inaugural meeting of the Economy and Development Council sets the tone for a more integrated and responsive approach to development planning and investment programming," Balisacan said. "By strengthening water resources, agricultural productivity, and infrastructure connectivity, we aim to unlock greater economic opportunities and foster inclusive growth for more communities across the country," he added. The ED Council was established following the enactment of RA No. 12145, also known as the Economy, Planning, and Development Act, which took effect on April 27. The newly reorganized council retained the original members of the NEDA Board and added the Secretaries of the Department of Health, Department of the Interior and Local Government, and Department of Labor and Employment as new members. RA No. 12145 reorganized the National Economic and Development Authority or NEDA into the Department of Economy, Planning, and Development. –NB, GMA Integrated News
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