Hon. FLORANTE M. SORIQUEZ
Secretary of Public Works and Concurrent Chair of the Board of Trustees
Metropolitan Waterworks and Sewerage System

Mr. ORLANDO HONDRADE
Chief Administrator
Metropolitan Waterworks and Sewerage System

Mr. EDUARDO SANTOS
Chief Regulator
MWSS – Regulatory Office
Katipunan Road, Balara, Quezon City


Dear Secretary Soriquez and Members of the MWSS Board:

The Freedom from Debt Coalition urges the MWSS Board to immediately draw on the full US$120-million performance bond. The Supreme Court decision removes all legal barriers to drawing on the bond and there is no more reason to delay calling on the full amount.

It is extremely unfortunate that at this point the US$120 million performance bond is no longer enough to cover unpaid concession fees that have already ballooned to US$180 million. This is even more reason why the MWSS must act quickly.

Further, FDC believes the High Court decision renders moot MWSS’s debt-to-equity deal with Maynilad through Amendment 2. We urge the MWSS Board to cancel Amendment 2, terminate the Maynilad contract, and take over the running of the service without the baggages of Maynilad. We urge MWSS to work for a viable PUBLIC water utility rather than work for the viability of Maynilad only to turn it over to private hands.


THE NATIONAL EXECUTIVE COMMITTEE
Freedom from Debt Coalition

Noted by:

LIDY B. NACPIL
Secretary General
Freedom from Debt Coalition

cc: Office of Government Corporate Counsel c/o Undersecretary Teehankee

FDC Chapters

chapters