Duterte EO puts CIAC under BCDA » Manila Bulletin News

Manila Bulletin Philippines

Breaking News from the Nation's leading newspaper

Tempo

Online Newspaper

Showbiz and Celebrity News

Sports News

World News
News Asia

Duterte EO puts CIAC under BCDA

Published

by Argyll Cyrus B. Geducos

President Duterte has issued an executive order (EO) reverting the Clark International Airport Corporation (CIAC) as subsidiary of the  (BCDA).

EO 14 sought to restructure CIAC from being an attached agency of the Department of Transportation (DOTr) to a subsidiary of the BCDA to ensure that the development of the Clark Civil Aviation Complex (CCAC) remains parallel with the development of the Clark Freeport Zone (CFZ) as a premier investment and promotion destination.

DOTr was directed to transfer the ownership of CIAC to BCDA.

BCDA shall now exercise control, supervision, and ownership of the CIAC while DOTr will retain its policy supervision and operational control over the CIAC.

“The DOTr is hereby ordered to facilitate the transfer and conveyance of the shares currently owned by the Republic of the Philippines, as well as those shares held in the name of its nominee stockholders, in favor of BCDA and its nominees,” the EO stated.

Any delay in the execution of such documents of transfer and conveyance of the shares of stock of CIAC shall not “delay, hinder or deter the immediate exercise of ownership rights over CIAC by BCDA.”

The CIAC is composed of DOTr Secretary Arthur Tugade as chairperson; Tourism Secretary Wanda Teo, BCDA president Arnel Casanova, CIAC president Alex Cauguiran as vice chairpersons; and Civil Aviation Authority of the Philippines director general Antonio Buendia, and six Presidential appointees as members.

Tags: , , , , , ,

Related Posts