SP committees begin talks in privatizing Puerto, Cogon public markets

The city council committees on laws and rules and economic enterprises have begun exploring the possibility of privatizing the Puerto and Cogon public markets.

The matter was discussed during a joint committee meeting convened to deliberate on the proposed general renovation or redevelopment of both public markets under a Build-Operate-Transfer (BOT) scheme pursuant to Ordinance No. 15285-2026.

Councilor Edgar Cabanlas, chairperson of both committees, clarified that the proposal remains under study and has not yet been finalized.

“We are not saying that this will immediately be implemented, but it will be carefully studied,” he said.

Cabanlas noted that several factors still need to be considered, including how the arrangement could help improve the management of the markets while ensuring better revenue generation for the city government.

As part of the initial steps, the City Treasurer’s Office has been requested to determine the appropriate rental rates, while the City Legal Office has been tasked to prepare a draft lease contract.

 These documents are expected to be presented in the next committee meeting for further discussion. (SPE/SP)