It would take longer for cement maker Holcim Philippines, Inc. to obtain the Board of Investment’s (BoI) decision on its application for tax incentives after the agency said it would halt the 20-day regular processing schedule due to an opposition against the company’s rehabilitation project.
In an interview with the media late last week, BoI managing head and Trade Undersecretary Elmer C. Hernandez said they would "stop the clock" on the review of Holcim’s application submitted to the agency this month.
Instead, they would go by the long way and conduct consultations with all parties concerned to determine if the allegations are true. The BoI would also ask Holcim to respond to the objection by Davao City Rep. Prospero C. Nograles on their plan to reactivate their idle Davao City plant.
"If there is an opposition, we will stop the clock. We will provide them with due process," he explained.
In a letter to the BoI, Mr. Nograles called for the rejection of Holcim’s request to have incentives, alleging that the company has violated environmental laws.