City officials clash on plan of Capitol to invest in SRP

Cebu City administrator Francisco Fernandez welcomes the plan of the provincial government to invest at the South Road Properties but acting mayor Hilario Davide III said yesterday the province might as well pour its money unto its poorest towns.

Davide said the province can choose 10 of its poorest towns, five in the south and five in the north, where it can possibly put up some manufacturing industries.

“In such a way, they can better help their constituents and lessen migration to the city,” Davide said, admitting that he was surprised when the province expressed intention to invest at the SRP the other day.

“They can be serious pero nahimuot lang ko nga with all their criticisms against SRP, here they are showing interest,” he said.

In a separate interview, Fernandez the plan of the provincial government to challenge the proposal of Filinvest Land Incorporated is “most welcome.”

“Maybe they realized that the SRP is a good project,” Fernandez said.

Fernandez said this intention of the province will not only invite more investors to the SRP but would also make FLI more honest in its dealings to put up with a competitive package or perhaps increase its project price.

“Competition always makes people more honest. FLI has to figure out a way to come up with a better deal,” he added.

Fernandez said that once the province will formally come in as a challenger to FLI’s proposal, it will have to match and deposit one percent of FLI’s total project cost. This reportedly is non refundable should the province eventually decides not to push through investing.

“Granting that FLI will deposit P800 million as one percent of the P80 billion, the Province will also do the same, it is not refundable if they win, if mang lawgaw lang gyud sila di nila dayonon, then the P800 million is still with the city, they will have to go to court to get it,” Fernandez added.

In a statement to The Freeman, Cebu third district Representative Pablo John Garcia said this is reportedly foreshadows “what may clearly be the rigging in favor of Filinvest.” – Mitchelle L. Palaubsanon and Ferliza C. Contratista/JMO (THE FREEMAN)