Maynilad has already signed a revised concession agreement with the Metropolitan Waterworks and Sewerage System, its principal shareholders confirmed on Wednesday.
Among the provisions of the revised deal is the confirmation of the concession period’s continuation until end-July 2037, the imposition of a tariff freeze until end-December next year, and the removal of the foreign currency differential adjustment. “[C]ontingent liabilities of the government have been substantially reduced, and a framework for better service to the public has been put in place,” said the Cabinet official.
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