Metamorphosis

WITH economic progress of the country on his mind, President Benigno Aquino III recently launched the first five infrastructure projects of the Public-Private Partnership (PPP) last March 7 in Makati City, before setting off to Jakarta, Indonesia and Singapore for his state visits.
Estimated at  $1 billion, the ten big ticket projects under the PPP are not only expected to generate more revenues for the country, but are also seen to create more jobs for Filipinos. It is also expected to ease the transport of goods and products in and out of the country, and provide long term and mutually beneficial partnership with large corporations.
The PPP project paves way for the state and private sector to work together to build  roads, hospitals, or airports with the private company usually given the rights to take charge of it for a certain period.
Among the first five projects up for bidding later this March include the expansion and upgrading of Light Rail Transit (LRT) 1, worth $177 million, and the privatization of the operation and maintenance of the Metro Rail Transit (MRT) 3, worth $145million. Scheduled for bidding in April is the Daang Hari- South Luzon Expressway (SLEX) link road project, estimated to amount to $36million. Open for bidding in May will be the $244 million-worth Ninoy Aquino International Airport (NAIA) Expressway Phase 2; and the North Luzon Expressway (NLEX)-SLEX link project worth $48million will be opened for bidding in June.
Confident that the best tool for an effective national transformation is accountability, the Aquino administration’s new business process scheme is expected to grant ease to investors who are interested in bidding for the PPP projects.
In his speech during the PPP Conference in Pasay City last November 2010, President Aquino said that the government will commit itself to compensate contractors in case regulatory agencies, courts, or the legislature prevent them from collecting fees. The guarantee, however, will only be limited to regulatory risks and will not cover market risk.
While the Aquino administration expressed optimism that the PPP projects would entail economic growth for the country, the local think tank Ibon Foundation Inc. (IBON) believes otherwise.  IBON reported that the regulatory risk insurance imposed upon the PPPs would only mean more debt for the country.
President Aquino meanwhile said that he is open to any criticism towards his administration as it is “expected in any country where free speech is a right granted to each and every person.” The president also said that instead of lashing out on critics, his administration would rather show results.
“They cannot argue with facts—that from our reform, and from our honest-to-goodness hard work, come developments that concretely change the way our people live for the better,” the President pointed out.
They say that change is achieved one day at a time. When it comes to economic improvement, change should not remain as a mere word, but something that should manifest itself on a healthier and safe environment as well as improved lives of people. While it is true that transformation in itself can be a drag, doing something to achieve the desired improvement is better than merely waiting for the world to change on its own.
(www.asianjournal.com)
(OCIE Mar 11-17, 2011 Sec A pg.6)