I am confused with the government policy of disposing and buying assets. Recently they sold the PNOC-EDC cheaply, when it was earning handsomely for the government because it controls the geothermal resources of the country. My guess was, there was a huge amount of money to be earned from the sale through SOP or Commissions, whatever that means. That is why, the government or the Palace sold it.
Now, on the news today, the government will buy Metro Railway Transit 3 for $900 million. My thoughts are, this is a losing business proposition, because currently the government is subsidizing fares of the riding public in the Metro Railway Transit 3 , yet they are willing to pay a huge amount for MRT 3 when it will not earn a Peso for the government. My guess is there will be a huge amount of money to be earned from the purchase through SOP or Commissions, whatever that means. That is why the government or the Palace is purchasing it.
So, ano ba talaga?
On the news today, from PDI:
The Philippine government is raising $900 million mostly from a 10-year, peso-denominated bond offering by a state corporation before the end of March to fund its takeover of the Metro Railway Transit 3, Finance Secretary Margarito Teves said.
The Department of Finance has mandated Development Bank of the Philippines and Land Bank of the Philippines to arrange the refinancing of the MRT 3 contract, Teves said in an interview with the Philippine Daily Inquirer, parent company of INQUIRER.net.
Now, on the news today, the government will buy Metro Railway Transit 3 for $900 million. My thoughts are, this is a losing business proposition, because currently the government is subsidizing fares of the riding public in the Metro Railway Transit 3 , yet they are willing to pay a huge amount for MRT 3 when it will not earn a Peso for the government. My guess is there will be a huge amount of money to be earned from the purchase through SOP or Commissions, whatever that means. That is why the government or the Palace is purchasing it.
So, ano ba talaga?
On the news today, from PDI:
The Philippine government is raising $900 million mostly from a 10-year, peso-denominated bond offering by a state corporation before the end of March to fund its takeover of the Metro Railway Transit 3, Finance Secretary Margarito Teves said.
The Department of Finance has mandated Development Bank of the Philippines and Land Bank of the Philippines to arrange the refinancing of the MRT 3 contract, Teves said in an interview with the Philippine Daily Inquirer, parent company of INQUIRER.net.