I AM curious what's happening in the board room of Clark Development Corporation. They must crunching numbers now and are strategizing. In the last few years, CDC is earning billions of pesos out of the collected rentals. But since the outbreak, business operations inside the freeport stopped. The very busy freeport once almost a ghost town in the early weeks of the pandemic. The once busy streets which in rush hours created a bumper to bumper traffic situation now are quiet. The golf courses, hotels and casinos, restaurants, manufacturing and industrial plants ceased activities.
There are around 1,200 locators inside the freeport employing some 140 thousand workers. When Pampanga was relaxed from Enhanced Community Quarantine (ECQ) to Modified Enhanced Community Quartantine (MECQ), there were certain businesses that were allowed limited operation. In a meeting called by Bases Conversion Development Authority President Vince Dizon and Clark Development Corporation President Noel Manankil, set of guidelines were announced. Only 30 percent of the workforce for the industrial companies and manufacturing will be allowed, according to Manankil.
Dizon and Noel Manankil now taking charge of the largest state-owned estates have multifarious problems in their hands. The problem is not that simple as someone may think. Like how will they be able to cope up with the losses, not only of jobs but also revenues? The last time I talked with Manankil, I queried him what will happen to businesses which closed operations, with zero income and has to contend with their lease payments? Is CDC management considering the possible condonation of rentals in the meanwhile that most business houses particularly those in the small and medium scale enterprises (SME)? The answer is no. The least that can be extended will be a moratorium and later payment of all back rentals through installment basis, Manankil said.
Last Monday, I got a phone call from former Candaba Mayor Jerry Pelayo and invited me to meet with him in the new location at the Bi-centennial park of the so-called Candaba market. Our talks centered mostly on status of the freeport. He said he might seek an audience with CDC Chairman Jose "Ping" De Jesus and venture some suggestions. He said he has strong feeling that if the pandemic will persist and there will be heavy losses, not only the freeport but the surrounding communities as well.
Hotels in the freeport have been closed for more than two months now and with almost zero income the expenses are mounting. This will include maintenance, salaries of skeletal force, payments for power and water bill and the monthly rentals. Some hotel casinos though may raise some revenues with their casinos which may engaged in junket operations. (Btw. I heard from my source that even the Philippine Amusement and Gaming Corporation is planning to reopen their casino operations within the month of June. It seems Pagcor's finances are already on a precarious balances and Malacanang's request for more funds are hardly met now.)
Now everyone, Dizon, Manankil, locators and workers and people from the outside towns are praying daily for the discovery of a vaccine vs the coronavirus so that lives can be normal again.