LRT-MRT privatization is a capitalist bonanza at the expense of consumers – Anakbayan

Published on May 12, 2011

Last Updated on May 12, 2011 at 9:42 pm

PRESS RELEASE
May 12, 2011

MANILA — “We are witnessing the full-blown revival of Kamag-Anak Inc. with the privatization of the LRT-MRT”.

This was how Vencer Crisostomo, the national chairperson of the youth group Anakbayan, described the plans by the Aquino administration to privatize the LRT-1, LRT-2, and MRT-3 train systems in Metro Manila.

According to an exposition by Sen. Ralph Recto, the government will be awarding the winning bidder P15 billion, aside from giving it tax exemptions and cheap loans from state banks. As indicated by the recent approval of the 100% LRT-MRT fare hike, the winning bidder will also be given a free hand in further jacking up fares in the three train systems.

Among those bidding for the contract is the Ayala Land corporation, owned by the Ayala family which is donated heavily to Aquino’s presidential bid, and the San Miguel Corporation of Aquino relative Danding Cojuangco.

Disclaimer | What you are reading is either a press release/ statement or a manifesto. These materials do not go through our editorial process and do not reflect our policy or position.

“The P15 billion in taxpayers’ money, unlimited fare hikes, and lost government revenues, is Noynoy’s way of thanking the Ayalas and Cojuangcos for their support in his presidential run” said Crisostomo.

“Noynoy Aquino’s PPP (public-private partnership) should be renamed plundering of public pockets” he added.

The youth leader added that this is the clearest example yet of how the PPP policy of Aquino will only benefit big businesses, especially those of people close to the president. #