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Our word, our bond

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On the water concession agreement with Maynilad and Manila Waters

BEFORE 1997, the MWSS was unable to fulfill its mandate, which resulted in poor service to the public, water loss of around 65 percent not to mention decades of underinvestment and mounting government debt in excess of $1 billion…

The MWSS concession agreement, as with all projects and agreements entered into by government during my administration, was anchored on complete staff work, review and consultation with various government agencies, organizations and the concerned public, which resulted in complete transparency all the while negotiating terms most favorable to government…

The success of this agreement has brought about an infusion of capital to upgrade the infrastructure necessary to improve the efficiency and service coverage to the end users. In Metro Manila alone, more than 18 million Filipinos (from only 10 million in 1997) now have access to sustainable water supply…

To achieve all this, the private sector mobilized funding from both foreign and local sources depending on the word of the Philippine government that the essential conditions of adherence to the sanctity of contracts and rule of law must be observed.

These are the pillars that hold together any agreement, be it between governments and/or the government and the private sector. Our word must be our bond.

(Former President Ramos in a letter to President Duterte)

Two crocodiles

YOU SONS of bitches, you’re not an entity to me. If you fool with me, you fool with the Filipino people. I will suspend the writ of habeas corpus and I will arrest all of you because I want to see billionaires in jail.

They say that all these years … where’s the big fish? Here, we have these two crocodiles…

Me? I will just prepare the charges. If we do not reach an understanding here, [the charges will be] economic plunder, then there is no bail.

(President Duterte in another tirade at the water concessionaires)

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