The government may begin next month the renegotiations with Manila Water Co. Inc. and Maynilad Water Services Inc. to revise their concession agreements.
Justice Secretary Menardo Guevarra said the draft agreement is almost ready, as government lawyers have received inputs from economic and financial experts.
鈥淚nputs on the financial and commercial provisions are now being incorporated in the draft. Once consolidated, we may start discussions with the concessionaires in March,鈥� he told reporters on Wednesday.
President Rodrigo Duterte said the agreements had to be renegotiated because of what he described as 鈥渙nerous provisions.鈥�
Guevarra said the entry of billionaire Enrique Razon as a major shareholder in Manila Water has 鈥渘o effect whatsoever鈥� in the upcoming revision of the agreements.