Port rumors

PORT RUMORS: At the North Harbor, while the business community has hailed the entry of Metro Pacific Investments Corp. and Harbour Centre in the modernizing and managing of the port, efforts continue to sabotage the awarding of the contract.

Some parties are spreading rumors, for instance, that when the decrepit World War I-vintage port is modernized, large numbers of workers would be laid off and fees and charges would be raised.

Under the contract of the consortium led by MPIC, no worker would be dismissed. In fact, an additional 20,000 skilled workers would be hired for the modernization of facilities and the upgrading of services under the P14.5-billion contract.

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CROWN JEWEL: Once touted as the crown jewel of the Philippine transport industry, North Harbor is now so decayed and filthy that it cannot even compare with, say, the port of Batangas City.

Modernization will replace the eight old piers with modern structures similar to those of Rotterdam, Singapore and Hong Kong. It will facilitate the movement of more people and cargo, spur commerce and boost government revenues from the port.

The government stands to gain P6.8 billion over 25 years. In its first-year operation, the Philippine Ports Authority is expected to earn some P160 million, increasing every year thereafter. –Philippine Star