Officials of the Negros Occidental provincial government and a private firm running the Negros First CyberCentre (NFCC) in Bacolod City are set to sign a mutual termination agreement at virtual rites Thursday, May 27.
This will allow the provincial government to take over the management of the NFCC from the Negros Property Management and Development Corp. (NPMDC) by June 30 or earlier, he said.
The move is aimed at enabling the provincial government to earn more from the NFCC under the operation of its Economic Enterprise Development Department than what the NPMDC has been paying, Diaz said.
This will enable the provincial government to pay its bank loan for the construction of the NFCC from its own earnings, he said.
The provincial government granted the request of NMPDC to retain P57 million from the retained earnings of the NFCC, Diaz said.
The amount will not come from the coffers of the provincial government, he explained.*