Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Marcos signs law amending RoW Act

A MAN WORKS at a construction site in Navotas City. — PHILIPPINE STAR/RYAN BALDEMOR

PHILIPPINE President Ferdinand R. Marcos, Jr. signed into law a measure that amended the Right-of-Way (RoW) Act, which would allow the government to acquire more land for big-ticket infrastructure projects.

Palace Press Officer Clarissa A. Castro confirmed the development on Wednesday through a Viber message to BusinessWorld.

“The President signed and approved the bill,” she said, without elaborating.

A copy of the signed law has yet to be released.

Right-of-way issues have hampered the rollout of government infrastructure projects, such as the Metro Manila Subway Project.

The Accelerated and Reformed Right-of-Way Act is one of the Marcos administration’s priority legislations, as it is expected to facilitate easier land acquisition for National Government infrastructure projects.

It amended Republic Act No. 10752 or the Right-of-Way Act, expanding its scope to cover all projects undertaken through public-private partnerships.

Michael L. Ricafort, chief economist of Rizal Commercial Banking Corp., said the new law would help address RoW issues more effectively and expeditiously as these have delayed the completion of infrastructure projects.

Nigel Paul C. Villarete, senior adviser on public-private partnerships at technical advisory group Libra Konsult, Inc., said he fully agrees with the new law.

“While we do uphold the sanctity of private property rights in the framework of our representative democracy, there remains the overarching principle that the good of all and for all must supersede individual rights,” he said.

“While a representative democracy underscores the inherent right of an individual, there has to be a tradeoff when such rights are weighed against the rights of the society or community in general.”

The law also applies to private firms engaged in public services that are granted the power of eminent domain under their franchise or other laws, covering sectors such as electricity, petroleum, water pipeline, ports, telecommunications, and irrigation.

It also amended the existing law on government access or expropriation of land for infrastructure projects by clarifying provisions on subterranean or underground rights-of-way.

It covers roads, bridges, power and water pipelines, telecommunications facilities, airports, seaports and irrigation projects, among others.

It also requires agencies to prepare a Right-of-Way Action Plan before acquiring property, which must include a census of affected persons, an inventory of assets, compensation estimates, an implementation schedule, and records of consultations with stakeholders.

Property valuation will be based on the system and market schedules under the Real Property Valuation and Assessment Reform Act, ensuring compensation for land, structures, crops, and other affected assets. — Chloe Mari A. Hufana

    You May Also Like

    Finance

    Prime Minister Keir Starmer is tightening control over the government’s economic strategy by strengthening a cross-government Budget Board that will shape the Autumn Statement...

    Finance

    A majority of Britain’s millionaires believe they would enjoy a better quality of life overseas, as higher taxes and the rising cost of living...

    Finance

    Soho House, the exclusive members’ club chain that has become synonymous with celebrity culture and creative-class networking, is to return to private ownership in...

    Stock Markets

    A LINEMAN checks the wires on top of utility poles in Marikina City, July 17. — PHILIPPINE STAR/MIGUEL DE GUZMAN SMALL ELECTRICITY end-users will...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.