MANILA, ANN, Nov 30 -- The Permanent Court of Arbitration (PCA) in Singapore ruled that the Philippine government must indemnify the Manila Water Co. P7.39 billion for losses incurred because the government has disallowed rate hikes over the past four and a half years.
“The tribunal ruled that Manila Water has a right to indemnification for actual losses suffered by it on account of the (government’s) breach of its obligation,” the water concessionaire said in a disclosure.
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