In deference to the incoming Marcos administration, the Philippine government itself cancelled the Chinese funding application for close to P300-billion big ticket railway projects promised during Duterte’s time.
Department of Transportation Undersecretary for Rails Cesar Chavez issued the statement Friday, July 15.
However, “The current DOTr leadership immediately wrote and coordinated with the Department of Finance to initiate policy discussions on the way forward for the three China Official Development Assistance Rail Projects,” he clarified. In 2021-2022, the DOF submitted the Loan Applications to China Eximbank for the SCRP EPCC Contract and the PNR SLH DB Contract.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Debt-to-GDP ratio still manageable — DoF - BusinessWorld OnlineAMID CONCERNS over the Philippines’ ballooning debt, Finance Secretary Benjamin E. Diokno said the debt-to-gross domestic product (GDP) ratio is “not the sole criterion that matters” in assessing the economy’s health. READ:
Read more »
PH faring well despite higher debt—DioknoThe Philippines continued to be faring well despite higher debt ratio, as the Department of Finance (DOF) explained that the nation’s economic fundamentals should be considered in determining credit risk.
Read more »
Tax court grants Tricom’s P49.5-M claim for refund - BusinessWorld OnlineThe Court of Tax Appeals (CTA) has granted the appeal of technology company Tricom Systems (Philippines), Inc. to cancel and set aside its tax liabilities for 2006 totaling P49.49 million. READ:
Read more »
ERC sets hearing on Meralco capex | Lenie LecturaThe Energy Regulatory Commission (ERC) will hear next month a petition of the Manila Electric Co. (Meralco) to approve its P2.34-billion capital expenditure (capex) program for its expansion projects that would be implemented together with the relocation of its facilities affected by government projects. “Finding the said application to be…
Read more »
Frasco commits to Marcos’ call for more tourism-driven infra projectsMANILA, Philippines —Tourism Secretary Christina Frasco on Thursday welcomed the recent pronouncement of President Ferdinand Marcos Jr. on the need to improve tourism infrastructure and level up
Read more »
Instagram down for thousands of users – DowndetectorThousands of users of Meta Platforms Inc's Instagram on Thursday reported issues with the photo-sharing application.
Read more »