Mindanao must pay more to end the rotating brownouts, President Benigno Aquino III declared in his Power Summit speech. The region, said Aquino, needs more power supply but “cheap” power rates are discouraging private investors from building new power plants to meet Mindanao’s growing energy needs.
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(Part 2 of 2) Continued from Part 1
Aside from hefty financial guarantees, private firms involved in a PPP impose incessant rate hikes especially in the case of the water sector to reap superprofits. When the Metropolitan Waterworks and Sewerage System (MWSS) was privatized in 1997 through concession ...
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Part 1
It was supposedly an event to tackle poverty. But the Aquino administration seized the opportunity to make a buzz about another “p”, which hardly qualifies as solution to poverty.
At the Asian Development Bank’s (ADB) Annual Board Governors’ meet in Manila held last week, Philippine government of...
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For the fourth straight week, oil companies rolled back the price of petroleum products. Flying V led the latest round of price cuts , reducing the price of diesel by P0.30 a liter and gasoline by P0.50. Other oil players are expected to follow suit. The Department of Energy (DOE) said that the rollba...
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The Asian Development Bank (ADB) held its 45 th annual meeting last May 2 to 5 in Manila. Some 4,000 delegates including finance ministers and central bank governors from ADB’s member-countries; as well as representatives of big business, international financial institutions (IFIs), transnational banks...
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