P-Noy: No faulty projects in my administration

Amid concerns raised by the European Chamber of Commerce (ECC), President Aquino maintained yesterday that faulty projects could not be allowed even if they were foreign-funded so as not to waste government resources.

Hubert d’Aboville, president of the ECC of the Philippines, said investors could not help but be reminded of past incidents of contracts being rescinded by the government, especially when a new administration took office.

Earlier, the President said he was canceling or reconsidering foreign-funded infrastructure projects worth $2 billion, saying that although the country badly needed the improvements, the contracts were overpriced and technically deficient.

Read more at Philippine Star

Con Yap

  • UP nn grad

    An accounting question — how many millions of Euros will it cost Pilipinas to rescind the contracts? [ This reminds of the recent one where Noynoy has said “rescind this DOTC contract” and NEDA says the analysis to rescind was poorly done. ]
    Girlfriend says — ask this one, ask this one… “Wwhat Pilipinas-group will be beneficiaries of the contracts when they are implemented under the Noynoy administration?”

  • Thai anton

    god save us all ( if there is any god ?) from p noy.