LRTA Administrator hailed by IFC
Ref.: Nixon Bermudez
Tel. No.: +63 (2) 854-0452
April 26, 2006
Mr. Vipul Bhagat, International Finance Corporation's (IFC) country manager for the Philippines and Thailand, recently sent a heart warming and encouraging note to LRTA Administrator Mel Robles.
Excerpts from the note reads: "I wish to congratulate you, your management and staff on this achievement. The turn around has been particularly impressive given the short period of time that you have been at the helm of the Light Rail Transit Authority ("LRTA")."
Mr. Bhagat was referring to LRTA's reversal of losses for 23 straight years, when it turned in a profit of Php68 million last year. This resulted in the Php23 million that the LRTA recently paid in income taxes.
Bhagat also quoted: "IFC (as part of the World Bank Group) is pleased to be working with your and your team on further improving LRTA's services to the public, viz the LRT 1 Extension Project."
Click here for a reproduction of the letter [PDF]
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