Clark International Airport Corp. said it will conduct a review and assessment of lease contracts of locators within the aviation complex as part of the present administration’s program to check delinquent accounts.
CIAC president and chief executive Aaron Aquino ordered a review of the lease agreements of 45 businesses, including manufacturing, mixed-use commercial hub, business process outsourcing, renewable energy, cargo and aviation-related industries within the CIAC premises.
“We’ll start identifying non-performing or delinquent locators, especially those with unsettled accounts. This will be done simultaneous with forging new and strategic partnerships to further develop the remaining prime government land at the aviation complex,” Aquino said.
“If the locators’ financial obligations in their lease contracts are updated, the government is assured of revenues that, in turn, may be used to spur economic growth,” he said.