Metro Pacific Tollways Corp. (MPTC) yesterday said it will continue to work with the government to resolve its outstanding petition for toll hike.
MPTC subsidiaries NLEX Corp. and Cavitex Infrastructure Corp. have received the decision of the Permanent Court of Arbitration in their respective arbitration cases on September 7.
The Arbitration Tribunal issued its final order in the case of Cavitex and the Philippine Reclamation Authority, based on the withdrawal by both claimants of their arbitration claims. The claims were based on the Toll Regulatory Board’s (TRB) inaction on their rate adjustment petitions filed in 2011 and 2014.
In its termination order, the Tribunal did not rule on the merits of their claims.
Meanwhile, Cavitex is working with the TRB in processing its toll rate petitions.
“The government has been very gracious in approving our long-overdue tariff adjustments and we are grateful for their support for our various expansion efforts. We are prepared to set our differences aside and are united with them in our common goal of enabling sustainable growth at a time when our country needs it the most,” said Rodrigo Franco, MPTC president and chief executive officer. – Myla Iglesias
