Government is reviewing another deal believed to have onerous provisions.
Finance Secretary Carlos Dominguez said the deal involves a piece of property owned by a government financial institution.
“(The institution) got into a contract to lease a piece of property so that (the) lessor will put up a certain structure there. That lessor did not put up that structure. And yet the lease was renewed. For a very low rate again,” Dominguez said in a forum held in Makati yesterday.
“The chairman of that institution, when he was replaced, left and became the chairman of that company,” he added.
Dominguez said he cannot provide further details as he only got the report last Wednesday.
“I’m having my staff go through all the contracts,” Dominguez said.
Asked how many contracts are being reviewed, the finance chief said they just come as they are being renewed.
“The reviews, we hope, will deliver a clear message that while the government is interested in inviting businesses to our economy, we are telling the investment community that the interests of the whole nation should be the primary consideration,” Dominguez added.
