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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