2025 privatization goal achieved

Revenues collected from privatization have already surpassed the downscaled P5-billion target for the year after the private-sector operator of Cavite-Laguna Expressway (CALAX) paid a partial P4.415 billion in concession fees owed to the government.

- By BEN ARNOLD DE VERA

Department of Finance (DOF) Undersecretary Catherine L. Fong, who heads the DOF’s privatization and partnerships group (PPG), told Manila Bulletin on Wednesday, Aug. 20, that privatization revenues as of July had reached 25.528 billion.

This end-July figure included the rare P714-million remittance from the Presidential Commission on Good Government (PCGG), which came from the sale of a Claude Monet paint-