The critical notion of every Filipino couldn't be controlled for not being doubtful on the action of the government to take control of the operation of Metro Rail Transit 3 (MRT 3) from the private sector. And, of course, this is really happening.
The PH government wouldn't do any better than to earn disrespect from the people. So much with those reactions of critics and disgruntled lawmakers and underprivileged sector of the society would surely be manifested.
Anyway let's be hopeful that the truth will come out and the people be clarified and satisfied of their dissatisfaction on this MRT 3 buying out hullabaloo.
"In finance, a buyout is an investment transaction by which the ownership equity of a company, or a majority share of the stock of the company is acquired. The acquiror thereby "buys out" the present equity holders of the target company. A buyout will often include the purchasing of the target company's outstanding debt, which is referred to as "assumed debt" by the purchaser." (wikipedia)
The government wants to "buy out" MRT 3 for P56 Billion pesos to get rid of the huge rental fees the government is paying to the the owner of MRT 3. And it is expected to be complete before the end of this year 2014.
This means the government could now take control of the operations of MRT 3 and free the itself of paying the enormous rentals. The government has the ownership and can operate it at all costs.
The Issue: 1999 BLT Agreement
By doing so, it has been learned that the government will be violating the 1999 BLT agreement. It was pointed out that the MRTC will have an additional train coaches. In fact this had been already presented and proposed 4 times starting in 2010.
However, it was learned that Department of Transportation and Communications (DOTC) had refused these proposals in which they're beneficial to the MRTC section of having additional trains to MRT section without additional cost (or taxpayer's money), as pointed out.
The Filipino people would like to know, therefore. Let's be optimistic that the truth will surface and the people be clarified, convinced, and satisfied of their doubt on this MRT 3 buyihng hullaballoo. So that the people for sure may know the real score.