Gov?t, MVP Group open to compromise on toll dispute
Keen to put an end to the overhang of issues, the Department of Transportation and Metro Pacific Tollways Corp. are considering an out-of-court settlement over the overdue toll rate adjustments for the North Luzon Expressway and Manila-Cavite Toll Expressway.
MPTC sued the government last year for lost revenues resulting from the government?s refusal to act on its petitions for regular rate adjustments since 2012. Its losses have ballooned to over P8 billion.
?We are asking for a gradual implementation of toll adjustments and if there?s a possibility to terminate the arbitration case, which is expensive,? Transportation Secretary Arthur Tugade said during the EJAP Economic Forum.
MPTC president Rodrigo Franco, for his part, said the company was open to entering into an amicable settlement with the government.
The company needs around P122.7 billion to build new highways and tollways across the country in the next five years.