Lucio Co’s takeover of PrimeWater ‘injustice’ for Bacolod consumers – watchdogs

NEGROS OCCIDENTAL, Philippines – Two consumers watchdogs in Bacolod City expressed disappointment with retail magnate Lucio Co’s takeover of the troubled Villar-led PrimeWater Infrastructure Corporation (PrimeWater).

Groups Amlig Tubig and Water Watch Advocates (WWA) branded the acquisition as “injustice” to over 70,000 households or water consumers in Bacolod. Co’s Crystal Bridges Holding, Inc. assumed PrimeWater’s role in the controversial 25-year joint venture agreement (JVA) with Bacolod City Water District (BACIWA) that started in November 2020.

Bacolod Councilor Wilson “Jun” Gamboa Jr., who is also a convener of Amlig Tubig, believes that despite the takeover, water consumers will still remain in drawback status. The group also calls for the junking of the 2020 JVA.

“The JVA is onerous in favor only of PrimeWater, thus, disadvantageous to both BACIWA and the consumers. So, if Co’s Crystal Bridges takes over with the same form of JVA without consulting first the consumers, then, nothing good will happen,” Gamboa said.

“It’s illegal ab initio (void from the beginning) simply because it didn’t pass through public consultations,” he added.

Gamboa is confident that BACIWA alone can still afford to handle both the management and technicalities of water distribution in Bacolod without PrimeWater or Co’s Crystal Bridges.

As to another JVA with Co’s Crystal Bridges, Gamboa said it “should not be labeled as priority.”

“For now, just bring back the BACIWA to the people of Bacolod — that’s all ,” he added.

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WWA convener Wennie Sancho said since the takeover was done in haste without the knowledge of BACIWA executives and Bacolod consumers, then “something [seems suspicious].”

Sancho dared BACIWA leaders led by Sonya Verdeflor to hold a dialogue with the consumers and lay down “the truth and nothing but the truth” about the JVA’s status. He also demanded an immediate audit of the financial status of BACIWA.

“We want to know the details vis-a-vis what will happen now with the water distribution in Bacolod. WWA cannot afford to see Bacolod water consumers to be [in] limbo,” he said.

Meanwhile, Bacolod Lone District Representative Albee Benitez said in a press conference on Thursday, December 18, that Co is set to shell out a P3-billion capital in Bacolod to improve water distribution operations. Benitez also said that the Co group is willing to review the JVA.

Benitez also debunked claims that he is one of the incorporators behind Crystal Bridges. Co is now a majority owner of the Bacolod Real Estate Development Corporation port, a business empire founded by Benitez’s grandfather, the late Simplicio Palanca. – Rappler.com