BusinessMirror March 14, 2016

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BusinessMirror

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A broader look at today’s business

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Monday, March 14, 2016 Vol. 11 No. 158

MPIC seen getting govt nod for Cebu toll bridge

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ONGLOMERATE Metro Pacific Investments Corp. (MPIC) should soon get the go signal for the construction of an 8.25-kilometer toll bridge that will connect the municipality of Cordova to the city of Cebu, a government official said. Department of Public Works and Highways Region 7 Regional Director Ador G. Canlas said government and Metro Pacific Tollways Development Corp. officials will meet on Thursday to finalize the P27.9-billion deal. “We will meet with them on March 17 for the presentation of the final

INSIDE

WAITING GAME

alignment of the bridge,” he said. “The issuance of the certificate of no objection will depend on what roads will be affected.” The project was bagged by Metro Pacific, through a joint venture with the local governments of Cebu and Cordova. By nature, the project will

have to undergo a competitive challenge, as it is an unsolicited proposal. Not a single company challenged Metro Pacific’s proposal. With the award, the toll-road operator will take on the financing, design, construction, and operation and maintenance of the Cebu-Cordova Bridge under an unincorporated joint venture with the local government units. The project aims to decongest traffic in the two existing bridges—Marcelo Fernan Bridge and Mandaue Bridge—between Mactan and Cebu, due to the worsening traffic condition in the area. It includes the construction of the connections to Cebu City and Cordova, the main bridge structure, viaduct, causeway, roadway and toll facilities. It is located some 7.5 km south of the Mandaue Bridge and

P.  |     | 7 DAYS A WEEK

PPP: A CREDIT CARD, MARRIAGE CONTRACT AND‘BAYANIHAN’ PPP Lead Alberto C. Agra

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Conclusion

IMPLIFYING a complex arrangement like a publicprivate partnership (PPP) is not a daunting task as it may seem. Using metaphors and comparing PPPs with common or day-to-day activities will definitely help in informing the public about this development strategy. Popularizing PPP demonopolizes knowledge and facilitates the creation of a broad PPP learning ecology.

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PPP METAPHORS

C4 MPIC PHOTO

SPORTS 5 YEARS AFTER THE SPARK, SYRIA WAR AT A CRITICAL JUNCTURE

1.23M OFWs in Middle East could lose jobs due to cheaper oil–DOLE

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PERSPECTIVE

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OME 1.23 million semiskilled or low-skilled overseas Filipino workers (OFWs) could lose their jobs should the price of oil in the world market continues to fall, Department of Labor and Employment (DOLE) officials told the House of Representatives. The House Committee on Overseas Welfare Affairs, headed by Trade Union Congress of the Philippines Rep. Raymond Democrito C. Mendoza, quoting Labor Undersecretary Nicon F. Fameronag, said 1.23 million OFWs might be displaced should conditions at the oil industry in the Middle East worsen.

PESO EXCHANGE RATES n US 46.7440

However, the committee, in a statement, said no massive displacement of OFWs is happening in the Middle East for now. Of the 196 returning OFWs from Saudi Arabia and other countries in the Middle East early this year, only eight have been displaced due to falling oil prices in the world market. Lawyer Francisco Noel R. Fernandez III of the Department of Foreign Affairs Office of the Undersecretary for Migrant Workers Affairs (DFAOUMWA) also told the committee OFW conditions in the Middle East are not critical at this point. Mendoza gave assurance the com-

mittee is looking into government plans and programs to help the returning OFWs remain productive upon their return to the Philippines. Philippine Overseas Employment Administration (POEA) Administrator Hans Leo Cacdac assured the committee the government is closely monitoring the situation in the Middle East and that government programs are in place to look after the welfare of OFWs in those countries. “Returning OFWs may avail themselves of the DOLE’s AssistWELL Program, a component of the

PRIVATE SECTOR

PUBLIC SECTOR

Credit Card

PPP Bayanihan

Marriage Contract

Boat Ride AUTHOR: ALBERTO C. AGRA

BM GRAPHICS: JOB RUZGAL

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n JAPAN 0.4130 n UK 66.7738 n HK 6.0222 n CHINA 7.1831 n SINGAPORE 33.8798 n AUSTRALIA 34.8290 n EU 52.2504 n SAUDI ARABIA 12.4670

Source: BSP (11 March 2016 )


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