Martes, Setyembre 8, 2015

The Surge is here

Don’t look now, but there’s quite possibly a big government infrastructure coming soon in your direction.
      
That's because the government appears to be accelerating approvals of big-ticket infra projects with less than a year to go before a new administrations kicks in.   The National Economic and Development Authority (NEDA) board recently approved five new projects in the transportation and energy sectors worth P131.4 billion.
      
The approved projects, according to Malacañang, underscore the importance of improving the country's infrastructure to sustain long-term economic growth.
      
Among the NEDA approved projects are the new passenger terminal building at the Clark International Airport, which is being built to meet its expansion requirements. The project costing P15.3 billion will allow Clark International Airport to accommodate up to three million passengers a year.
      
The Naga airport expansion project in Camarines Sur costing P3.5 billion is geared towards meeting growing tourism demand.
      
NEDA also approved the construction of the P64.7 billion LRT Line 6, a 19-kilometer elevated rail facility from LRT Line 1 extension in Bacoor that will go southward through Imus and up to Dasmariñas. LRT Line 4 costing P42.8 billion will be built from EDSA Ortigas to Taytay City, on an elevated rail facility covering a distance of 11 kilometers.
      
Apart from these, NEDA also approved the P4.8-billion energy program that will  provide grant assistance for solar home systems and rural power generation facilities.
      
But the accelerated infrastructure development program, particularly the two LRT projects, is being questioned by critics who claim that these are loaded with sovereign guarantees, or provisions in government contracts that ensure a certain level of profits for investors at public expense. Moreover, they are saying that these could be "midnight" deals to be awarded just before the elections.
      
Be that as it may, we believe the government is on the right track in getting more infrastructure projects off and running. After all, one of the main gripes of potential  investors, both local and foreign, is the lack of adequate infrastructure. We just have to ensure that the rules are not changed in midstream, and that contracts are duly respected, even with a change in administration. –End-


Image by: www.philstar.com

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