9780821347119

Manila Water Concession : A Key Government Official's Diary of the World's Largest Water Privatization

by
  • ISBN13:

    9780821347119

  • ISBN10:

    082134711X

  • Format: Paperback
  • Copyright: 2000-07-01
  • Publisher: World Bank

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Summary

In January 1997 the Government of the Philippines awarded two long-term concession contracts to private consortia, to operate the water and wastewater services in Greater Manila, an area with a population of 11 million. The winning bidders accepted contractual obligations to expand services faster than in the past, and offered rebates on the tariffs of the incumbent public utility. This diary of a key player in the government team that steered the Manila transaction, demonstrates principles that will be valid wherever such privatisations might occur: "the importance of sustained high-level political commitment; the need for a strong and dedicated government team, supported by experienced advisors; the value of a transparent bidding process; and the need to communicate and consult broadly" (from foreword)

Table of Contents

Foreword vii
Acknowledgments ix
Acronyms and Abbreviations xi
Introduction 1(2)
The Philippines---A Brief History
3(2)
The Metropolitan Waterworks and Sewerage System (MWSS)
5(2)
The Philippine Democratic Framework
7(2)
Early Offers to Privatize MWSS and the Decision to Privatize
9(3)
The Malaysians' Offer to Privatize MWSS
9(1)
The President
10(1)
Second Proposal to Privatize MWSS
11(1)
Third Offer to Privatize
11(1)
Early Research on Water Privatization
12(4)
The Commercial Counselor of the French Embassy
12(1)
Lyonnaise des Eaux
13(1)
Macao
13(1)
The U.K. Model
14(1)
Buenos Aires Documentation
14(2)
The Need to Privatize
16(5)
Procurement
16(2)
Personnel
18(1)
Financing
19(1)
Elephants Can't Fly
19(2)
Financing the Cost of the Advisers
21(4)
The Need for Advisers
21(1)
French Assistance
22(1)
The Search for Additional Grants
23(1)
Bridge Financing
23(1)
How to Secure and Finance Advisers
23(2)
Water Crisis Act
25(2)
The International Finance Corporation
27(4)
First Contact
27(1)
Negotiations
28(1)
The Contract
29(2)
Appointment of Angel Lazaro III
31(2)
The Legal Basis
33(5)
Executive Orders 286 and 311
33(3)
The Bidders Question the Legal Basis of the Bidding
36(2)
Participation of Foreign Firms
38(2)
Need to Reduce the Labor Force
40(2)
Need to Have Bids Lower than the Existing Water Tariff
42(3)
Splitting the Franchise Area into Two Zones
45(5)
Tariff Escalation Procedures
50(6)
Tariff Escalation for Toll Roads
50(1)
Dilemma of the MWSS Tariff Escalation Formula
51(1)
NERA Rate Rebasing Concept
51(1)
NERA Proposal to Use CPI as the Escalation Index
52(1)
The ``Appropriate Discount Rate'' and Objectivity
53(1)
The ADR as Project Return
54(1)
The ADR and Retroactive Adjustments
55(1)
The Regulatory Office
56(2)
Takeover of Existing Projects
58(2)
Capital Expenditures toward the End of the Concession
60(1)
Ownership and Use of Assets
61(2)
Consequences of Termination
63(2)
Joint Venture Agreement
65(1)
Trip to Buenos Aires
66(1)
Handling the Media
67(2)
Hiring a Local over a Multinational Firm
67(1)
The ``Bidding War''
67(1)
The Media and Transparency
67(2)
Transparency
69(3)
The Approval Process
72(8)
Early Thoughts
72(1)
The MWSS Privatization Committee
72(1)
The MWSS Board
73(1)
The Special Advisory Committee
73(3)
The Committee on Privatization (COP)
76(1)
The Prequalification, Bids, and Awards Committee (``Bid Committee'')
77(1)
The Technical Working Group of the Bid Committee
77(1)
Contract Negotiation and Signing
78(1)
Summary of the Approval Process
79(1)
The Bidders
80(5)
The International Water Operator
80(2)
The Local Lead Firm
82(1)
The Prequalification Process
82(3)
Bid Submission
85(8)
Meeting the Deadline
85(1)
Custody of the Bids
86(1)
Arrival of IFC
87(1)
Planning the Procedures for Bid Submission
87(1)
January 4, 1997---The Temporary Restraining Order
88(1)
January 5---The Day Before
89(2)
January 6---Bid Submission
91(2)
Bid Opening
93(6)
The Evolution of the Technical Proposals
93(1)
Preparations
93(1)
January 21
94(1)
January 22
95(1)
January 23---The Big Day
95(4)
Court Of Appeals' Temporary Restraining Order
99(2)
Approval by the President
101(1)
The Media and the Political Battle
102(8)
A Frenzy
102(3)
Too Good to Be True
105(1)
Senate Hearings
105(1)
Positive Media Reaction
106(4)
Closing Date
110(3)
Delays
110(1)
Turnover
111(2)
Interconnection Agreement
113(3)
The Source of the Problem
113(1)
Disagreement
114(1)
Arbitration
114(2)
Labor Opposition Prior to Closure
116(3)
The Timing of the Bidding
119(2)
The Service Targets, the Financial Model, and the Low Bids
121(2)
How Do I Privatize My Local Water Company?
123(4)
Define the Problem
123(1)
List the Constraints
123(1)
Identify the Preferred Privatization Option and Its Broad Characteristics
124(1)
Hire a Lead Adviser
124(1)
Manage the Work of the Adviser
124(1)
Design the Approval Process
125(1)
Develop a Consensus
125(1)
Impose Strict Prequalification Requirements
126(1)
Design a Transparent Bidding Process
126(1)
Postscript 127(2)
Notes 129(3)
Chronology of Events 132(2)
Maps 134

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