CAGAYAN de Oro Bulk Water, Inc. (COBI), a unit of Metro Pacific Water, is urging the Cagayan de Oro Water District (COWD) to show good faith in negotiations, as the water company seeks resolution over the latter’s unsettled accounts.
“We respectfully remind COWD to update its payments, which we believe will demonstrate its good faith and commitment to a successful negotiation,” COBI said in a statement on Thursday.
“COBI remains optimistic that a formal settlement agreement would result in a speedy and amicable resolution to this issue,” it added.
The Cagayan de Oro (CdO)-based water company said that COWD has announced its intention to negotiate over the unsettled accounts.
“We believe a mutually beneficial resolution through discussion is the most effective way forward that will benefit not just both parties but, most especially, the consumers,” COBI said.
The company has requested COWD to formally engage via documented correspondence for a productive negotiation.
It said that the Local Water Utilities Administration is the “perfect facilitator” for the negotiation as it is in line with its mandate as a regulatory body.
“Although several failed negotiations have been made in the past, we hope that the upcoming one will be different. By securing a proper quorum of representatives from both parties, we can work toward a truly amicable resolution for COBI and COWD,” the company said.
COBI has said that the decision to cut off water supply to COWD was a joint decision by the company and Rio Verde Water Consortium as they deemed it “the only way COWD would take the matter seriously.”
Metro Pacific Water is a wholly owned subsidiary of Metro Pacific Investments Corp. (MPIC).
MPIC is one of the three key Philippine units of Hong Kong-based First Pacific, the others being Philex Mining Corp. and PLDT Inc.
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MPIC’s CdO unit to water district: Show ‘good faith’ in negotiations
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