"Lotilla and DOTC’s coterie of clueless lawyers were wrong to presume the private sector proponents will make bundles of profits at no risks, hence the unacceptable terms of the bidding. That’s where the problem lies. The statement of DOTC Usec Timmy Limcaoco is very revealing. Business World quoted him saying “the government doesn’t want to make them too rich.” It was an idiotic comment from a senior official that betrays his lack of understanding of what public-private partnership means. xxx In other words, [Ramon Ang of SMC] is saying Mr. Limcaoco is silly to talk about preventing them from getting too rich. The extreme risk taker that Mr. Ang is, he still found it prudent to withdraw because San Miguel doesn’t want to be made poor by the deal. It must be a really rotten deal compared to the P11 billion plus actual construction cost RSA was willing to risk on the NAIA Expressway project. xxx P-Noy told a Cavite audience that both he and Sec Jun Abaya will allow themselves to be run over by a train if the LRT 1 extension project is not delivered by December 2015. Was that an empty promise? Then again, they can always say there are no trains to run them over and that is true too. Good job, DOTC!"
Posted on: Mon, 19 Aug 2013 09:24:04 +0000
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