Tuesday, February 19, 2008 [ manilatimes.net ]
THE Department of Finance may turn down the offer of state-run Government Service Insurance System to buy Food Terminal Inc. in Taguig City.
Finance Secretary Margarito B. Teves said, GSIS’ offer is much lower than what the government wants for the 120-hectare property, adding the DOF expects to generate P15 billion from FTI privatization.
“Based on newspaper report, Winston [Garcia, GSIS president and general manager] was suggesting something like P7 [billion] to 8 billion. For the meantime, we’re looking at better alternatives,” Teves told reporters. > > > [ full story ]
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