PRESIDENT RODRIGO R. Duterte has reiterated that he is not open to negotiations over the revised deals that will be offered to Metro Manila’s two water concessionaires unless they pay consumers back the money collected based on the previous “onerous contracts.”

“Give us back the money. Give it back to the people and maybe we can talk about solving your problem,” Mr. Duterte said in a speech at the Malacañang Palace on Thursday.

In early January, the President said he is offering new contracts to Manila Water Co., Inc. and Maynilad Water Services, Inc., with a warning that he will pursue charges against the two companies should they reject the terms and conditions.

“Theyr’e trying to reach out for a settlement. Let’s see if it develops. Talagang galit ako (I’m really mad),” Mr. Duterte said.

The Department of Justice has been tasked to draft the new contract, which is expected to be finalized within six months.

Mr. Duterte has accused the water concessionaires of “economic sabotage” after Manila Water disclosed on Nov. 29 last year that it won P7.39 billion in an arbitration case with the government brought before an international tribunal.

Maynilad won a similar case in July 24, 2017, with an award of P3.42 billion.

Both companies, however, have said during congressional hearings late last year that they no longer intend to collect the amount.

The President also repeated his threat that he is prepared to put back the capital’s water distribution services under the government’s management.

“I am not afraid there will be no water because I will take over and just nationalize water in the Philippines,” he said.

One of Maynilad’s shareholders, Metro Pacific Investments Corp. (MPIC), is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc. — a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc. — maintains interest in BusinessWorld through the Philippine Star Group, which it controls. — Gillian M. Cortez

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