The Metropolitan Waterworks and Sewerage System (MWSS) informed that the concession agreement between the government, and the Maynilad Water Services Inc. and Manila Water Company, Inc., that lasts until 2037 is not yet cancelled. What the MWSS revoked was the board resolution that sets out the guidelines on the extension of said agreement on the part of the state. Moreover, the water provision agency continues to renegotiate the onerous provisions on said contract.
The Metro Pacific Investments Corporation, the firm that owns the Maynilad, expressed that some banks suspended the grant of loan with regard to the new projects carried out by the Maynilad. To date, the Maynilad has PHP43 billion debt.
