Tensions continue to escalate between Makati City Mayor Nancy Binay and her sister, former mayor Abby Binay, as the newly sworn-in mayor raised serious concerns over an ₱8.96-billion settlement agreement signed during her sister’s term.
Mayor Nancy disclosed that the settlement deal between the city government and Philippine Infradev Holdings Inc. — the private contractor tapped for the shelved Makati Subway Project — could jeopardize the city’s financial stability.
“Malalagay po sa binggit ng alanganin ang pampinansyal na kalusugan ng ating Lungsod kung sakali mang ibaba ng SIAC ang nasabing settlement agreement,” Mayor Nancy warned.
“Sa katunayan, dahil sa nakanselang Makati Subway Project, hindi po kayang magbayad ng Lungsod ng humigit-kumulang P9 bilyon sa Philippine InfraDev Holdings.”
The Makati City Council reportedly approved the resolution on June 20, with then-Mayor Abby signing it on June 23, just one week before Mayor Nancy officially assumed office.
Mayor Nancy also questioned the lack of transparency in the deal, citing the absence of public consultation, budget certification, or proper transition disclosures.
“Kahit tayo din po ay nagulat na meron palang inaprubahang resolusyon ang Sangguniang Panlungsod na magkokompromiso sa financial standing ng Lungsod, at lubhang makakaapekto sa mga kasalukuyan nating mga programa’t proyekto,” she added.
“Sa mga ganitong klaseng galawan, laging kawawa ang taumbayan,”
The Makati Subway Project was initially envisioned as the country’s first intra-city subway but has since faced delays due to legal, financial, and logistical hurdles.