The Department of Transportation and Communications (DOTC) announced the government’s plan to privatize Lumbia Airport in Cagayan de Oro to avoid being idled as a result of the development of the Laguindingan Airport.
DOTC chief Leandro Mendoza said that the privatization plan is in line with the policy of the government to recognize the indispensable role of the private sector as the main engine for national growth and development.
Mendoza also said that the proceeds of the sale could be used to finance other government infrastructure programs.
Likewise, Mendoza assure that the planned privatization will be done through a public sale process in accordance with Executive Order 323, an issuance governing the privatization program of the government, and other applicable laws, rules and regulations on privatizations of government assets and properties.
with article by James Konstantin Galvez of Manila Times