The Negros Occidental provincial government is finalizing the mutual termination of its joint venture agreement (JVA) with the firm managing its Negros First CyberCentre in Bacolod City, Provincial Administrator Rayfrando Diaz said today, February 9.
“By March hopefully the province will be in full control of the cyber center,” Diaz said.
Diaz said he was informed by a representative of the Negros Property Management and Development Corp. (NPMDC) that they have the P57 million they are asking for to enter into a mutual termination of the JVA.
The P57 million is already owned by the joint venture and will not come from the coffers of the provincial government, Diaz said.
The governor was happy to hear that and agreed to give the amount to NPMDC, Diaz said.
The Provincial Legal Office is preparing the mutual termination agreement that the provincial government will submit to NPMDC. If they agree to the terms and conditions it will be submitted to the Sangguniang Panlalawigan for approval, he said.
If the provincial government can start collecting the P5 million rent from the Negros First CyberCentre tenants starting March it will earn P50 million this year, plus P11 million in collectibles, Lacson said Friday.
This will be far more than the P14 to P15 million paid to the provincial government annually under the JVA, Lacson said.*