Addressing the ambiguities of the existing public-private partnership framework is a top legislative priority of President Marcos, as stated during his first SONA.
MANILA, Philippines – The House public works panel passed on Thursday, November 17, a measure that seeks to provide a new framework for public-private partnership projects, which is a priority legislation of the Marcos administration.
Key elements of the proposal also include a mechanism to ensure that the government is able to meet obligations it enters into. “Total financial loss due to expropriation proceedings… is P1.2 billion as of 2020 alone. This amount does not include the economic losses due to traffic and vehicular operating costs incurred by displacing over 160 million passengers annually or 44,000 passengers per day,” Salceda told the House public works panel, of which he is also a member for the majority.
If passed, the law will unlock “at least P27 trillion in financial resources available in the banking sector, and at least P600 billion annually in just the large conglomerates” towards infrastructure projects, Salceda said.In his first State of the Nation Address in June, President Ferdinand Marcos Jr.
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