Isko gives 2 market operators 72 hours to pay P25.54-M debt

Kat Domingo, ABS-CBN News

Posted at Aug 13 2019 01:35 PM

 

MANILA - Manila Mayor Isko Moreno on Tuesday gave 2 companies 72 hours to pay P25.54 million in unpaid obligations or risk losing control of 5 public markets in the city. 

XRC Mall Developers Inc and Marketlife Management and Leasing Corporation entered a joint venture agreement with the previous administration, but never remitted the city’s guaranteed annual revenue share since 2017, Moreno said.

“‘Yung maliliit na nagtitinda nagbabayad pero ‘yung malalaking korporasyon hindi nagbabayad. Parang ginagahasa niyo naman kami niyan,” the mayor said.

XRC-operated markets Sta. Ana Market, San Andres Market, Sampaloc Market and Trabajo Market incurred a P14.38-million debt between April 2017 and July 2019.

Marketlife, the corporation behind Quinta Market, had P11.16 million in unpaid obligations in the same period.

“Binibigyan ko kayo ng 72 hours to pay. This is unfair. Hindi makatwiran yan,” he said. 

“In the absence of payment, we will invalidate or strike down your contract. No extension. You have to pay,” he added.

ABS-CBN News has yet to get the sides of the 2 wet market operators.

The Estrada administration earlier signed joint venture agreements with the 2 companies to develop and operate the 5 public markets.