The government would no longer tap Chinese government-owned companies in the construction of railways and other big-ticket infrastructure projects in the wake of China’s actions in the West Philippine Sea, according to Senate President Juan Miguel Zubiri.
The Inquirer on Friday night tried to reach Bautista to confirm Zubiri’s statements but he had yet to reply at press time.
Malacañang also increased the DOTr’s allotment for next year to P214.3 billion, more than double of the department’s approved budget of P105.98 billion this year.In July 2022, the Chinese loans for three multibillion-peso railway projects under the administration of former President Rodrigo Duterte were scrapped after the Chinese government failed to act on the funding requests by the government.
Manila’s loan applications with state-owned China Eximbank, however, were deemed withdrawn after former Finance Secretary Carlos Dominguez III “canceled the application instead of keeping it in suspended animation” due to the bank’s inaction. “The income of these companies will be used by China to fund their navy and coast guard to harass. That’s not right,” he pointed out.
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