METRO Pacific Tollways Corp. (MPTC) will not object to the government's selling its stake in the Subic-Clark-Tarlac Expressway (SCTEX) venture to the Social Security System and the Government Service Insurance System.

"It's up to them. We made an offer, so if they see that it's better for the government to hold the shares, that's fine. I can't change that mindset," MPTC President and CEO Rogelio Singson told reporters.

Singson's statement came after Finance Secretary Ralph Recto said that he was considering selling the government's share in SCTEX to the two state-run pension funds.

The Bases Conversion and Development Authority (BCDA) earlier said MPTC had offered to buy its shares in SCTEX for about P20 billion.

Singson, however, emphasized that the expressway's operations should continue to be handled by the private sector.

The BCDA's revenue share from the expressway amounted to P573 million in the first quarter of 2024, representing 50 percent of toll revenues from the SCTEX and up 17 percent from last year.

The SCTEX, funded by the Japan International Cooperation Agency, is a 91-kilometer or 362-lane-km expressway stretching from Subic-Tipo to La Paz, Tarlac, and connecting the special economic zones in Olongapo City, Subic and Clark to Tarlac City.

Besides SCTEX, MPTC has also offered to buy government shares in the Manila-Cavite Expressway (Cavitex) project and in the North Luzon Expressway (NLEX).

Read The Rest at :