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Friday, June 30, 2006
Guv to meet Lucio on PNB issue
By Genalin D. Ducay
GOVERNOR Joseph Marañon revealed Thursday that a meeting is soon to be arranged between him and business tycoon Lucio Tan regarding the status of the Philippine National Bank (PNB) in Bacolod.
"The meeting though is more as a friendly dialogue than a negotiation. We have to handle this very carefully as we are dealing with one of the biggest investors in the country," Marañon said.
Marañon also said that written communications have been sent to the PNB management.
Tan now owns a majority of the PNB shares of stocks.
The governor plans to ask for a review of the existing contract between the provincial government and the PNB management regarding the area which the PNB building occupies.
Under the existing contract, the PNB is only obliged to pay P1 per year or P100 for 100 years also.
Meanwhile, Marañon said that the Bacolod City Sports Complex, formerly Paglaum Sports Complex, would be better off if placed under the Province's management.
The new proposal of the province states that part of the property will be converted into a commercial center so as to become viable and profitable.
(June 30, 2006 issue)
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