Privatization

MANILA, Philippines – Manila North Harbour Port Inc. (MNHPI) has committed to absorb more than 1,000 workers at the Manila North Harbor as part of its agreement with major labor groups operating in the area, paving the way for a smooth transition towards privatizing the country’s busiest port.

(Fourth of five parts) The more specific macroeconomic benefits of privatization are:

MANILA, Philippines – The turnover by the Philippine Ports Authority (PPA) of the Manila North Harbor operations to the private sector is yet facing another obstacle, even after the PPA and Manila North Harbor Port Inc. (MNHPI), have finally agreed on the terms of the imposition by MNHPI of a concession fee on third party…

(Third of five parts) D. Macroeconomic benefits of privatization A World Bank report in July 1992 reported that “8,500 enterprises in over 80 countries have been privatized in the past 12 years.” The privatization bandwagon virtually started in the early 80’s when Great Britain, under then Prime Minister Margaret Thatcher started selling off major government…

MANILA, Philippines – The government faces a major setback in its efforts to privatize Philippine National Oil Company (PNOC)-Exploration Corp. after the board of the state-owned corporation failed to decide on the Department of Finance’s plan to sell the 10 percent participating interest of PNOC-EC in the Malampaya natural gas project.

(Second of five parts) C. Reasons for privatization There exist many reasons for a country to privatize its assets but the following constitute the most common and compelling why many countries undertook or advocate privatization:

MANILA, Philippines – The consortium between corporate titan Manuel V. Pangilinan and businessman Reghis Romero III is hopeful that the ongoing labor dispute at the Manila North Harbor will soon come to an end, allowing them to formally take over the country’s busiest but inefficient terminal.

MANILA, Philippines – The government should refrain from disposing of assets during the election period as it may end up selling at a bargain, a former economics official said.

Workers blocking the takeover of the Manila North Harbor failed to convince the Manila Regional Trial Court (RTC) Branch 25 to stop the Philippine Ports Authority (PPA) from turning over cargo handling operations to the new operator.

MANILA, Philippines – Investors in emerging market (EM) nations, including the Philippines, should prepare to exploit privatization opportunities once the economic crisis is over, according to Eurasia Group, a global research and consulting firm.

MANILA, Philippines – The government is open to moving the privatization of various real estate properties including the Bilibid property in Muntinlupa to 2011 to prioritize the sale of big-ticket items this year, a Finance official said yesterday.

MANILA, Philippines – Another round of mergers, acquisitions and consolidations is expected to occur in 2010, albeit not as grand as the previous years.

TRANSCO OWNERS: Transparency dictates that the public be told the identity of the influential persons involved in the conglomerate that is taking over the state-owned National Transmission Corp. or Transco.

MANILA, Philippines -The Power Sector Assets and Liabilities Management Corp. (PSALM), the state-run overseer of power assets, has lined up six huge power plants for privatization next year.

Manila North Harbor workers on Monday demanded a memoran dum of agreement that will guarantee zero job cut and recognition of existing unions in light of the port terminal’s looming privatization.

STATE-OWNED Philippine National Railways (PNR) plans to privatize the operation and maintenance of the Caloocan to Alabang rail system and its Bicol line.

MANILA, Philippines – The government is likely to miss its P30-billion revenue target from privatization this year because of poor investor appetite, a state-run think-tank said yesterday.

The opposition of many porters, dockers, truckers, vendors, informal settlers, migrant workers, and other port community groups  against the implementation of the Manila North Harbor Modernization (MNHMP) is valid and actually stands on good and firm legal grounds.

MANILA, Philippines – Hundreds of porters, truck drivers and vendors stormed the Philippine Ports Authority (PPA) in South Harbor yesterday morning to protest the privatization of the North Harbor.

The Chinese government has been forced to cancel the privatisation of a steel firm following worker protests, the country’s state-run media has reported.

Little has been heard of the proposal to privatize Philpost in recent months, but it would be a mistake for employees to become too complacent. They would be well-advised, in fact, to read a study published by the post and logistics section of the UNI Global Union.

State-run Metropolitan Waterworks and Sewerage System (MWSS) said that the impending privatization of the Angat hydroelectric power plant may adversely affect Metro Manila’s water supply.

BAGUIO CITY—At lrast 1,000 former employees of a state power firm failed to qualify for work at the National Grid Corp. of the Philippines, which acquired the country’s power transmission grid, a former union leader of the National Transmission Corp. (Transco) said.

MANILA, Philippines — Several lawmakers on Thursday warned the government against a total sellout of all its assets and instead proposed that it retain minority share in properties it intended to privatize.

San Miguel, Aboitiz offers disappoint The first bidding for independent power producer administrators (IPPA) who would manage the contracted capacities of state-owned National Power Corp. (Napocor) failed after the two participants’ offers fell below the government’s reserve price.

A consumer group is asking the World Bank and the Asian Development Bank to assess and evaluate the privatization of the National Power Corp.’s generation assets by the Power Sector Assets and Liabilities Management Corp. (PSALM).

MANILA, Philippines (AFP) — The Asian Development Bank said Saturday the Philippines has failed to follow a commitment to reduce the number of state-run corporations that have been bleeding government coffers dry.

THE Bataan nuclear power plant, which never produced a single watt of electricity but cost taxpayers $155,000 a day for more than 30 years, has been sold for scrap for $2.859 million.

MANILA, Philippines – The Power Sector Assets and Liabilities Management Corp. (PSALM) is optimistic it could still achieve its 100-percent privatization target for National Power Corp. (Napocor) generating assets this year.

Japanese investors raised concerns over the effect of market conditions on the government’s P20-billion privatization plan this year but officials said careful timing would enable finance officials to raise the target revenue.