DOF welcomes remittance of SMC’s P30-B upfront payment on NAIA PPP deal
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NewsTranscript
00:00The Department of Finance, or DOF, reported San Miguel Corporation's new NIA Infra Corporation, or NNIC,
00:07has remitted its 30 billion pesos upfront payment for Ninoy Aquino International Airport, or NIA,
00:14public-private partnership project.
00:17The payment was made through the Manila International Airport Authority, or MIA,
00:22and received clearance from the Bureau of Treasury on September 16.
00:26Furthermore, the finance chief welcomed the remittance of the upfront payment,
00:30noting it will boost the government's non-tax revenue system without the need to impose new taxes.