International business community cites RP’s economic turnaround

The Senate is set to hear Senate Bill No. 2595, certified as urgent as it contains the bid of the Local Water Utilities Administration (LWUA) for an increase in its authorized capitalization and borrowing capacity, when it resumes session on the first week of June.

LWUA Administrator Orlando Hondrade stressed the need for a Senate hearing which will pave the way for the eventual approval of the LWUA bill so the agency could fast-track the setting up of more water districts and expand and modernize existing water districts.

Before the Senate adjourned for the election break in February, President Arroyo had certified SB 2595 as urgent, as it seeks, among other things, an increase in LWUA’s authorized capitalization to P50 billion and its domestic and foreign borrowings to P1 billion and $1 billion, respectively.