Donald
Sorry to bother you again, but in regard to the permits I have to tell you that you are WRONG.
Again, FENWAY puts out statements which are hard to read rather than clean cut information. Other people would call it misleading.
In fact, the approval of the Palawan Council for Sustainable Development (PCSD) does NOT mean that the Department of Environment and Natural Resources (DENR) will automatically grant an EEC.
I did some more homework on it and that is what I found out so far:
1. The PCSD passed a resolution on 11/15/96 endorsing the project "subject to approval of an EIA". This is NOT a blanket endorsement (as stated by FENWAY's management) and even the PCSD is yet to study the environmental impact statement which FENWAY promised to submit in early January 97 (as per their own news release). In other words, nothing has been sent to the DENR yet. Therefore it is impossible that a permit has been granted as FENWAYS representatives try to let the shareholders believe.
2. The above mentioned resolution is being questioned by environmental groups. They are questioning why the PCSD endorsed the project without looking at the environmental impact statement. Meanwhile, PCSD has backtracked on its support to the project because of that. They said, that they have not fully endorsed the project, and that they will study the EIA to be submitted by FENWAY very seriously.
3. With the publicity and strong sentiment against irregular procedures in the PCSD, I would not expect the DENR to grant an outright ECC.
4. The PCSD will meet again on 01/17/97 to look a the environmental impact of FENWAY's project.
Do you still do not believe me, that FENWAY gives misleading statements?
Well, get a copy of the PALAWAN SUN (issue no. 101 of Dec. 16-23, 96) and perhaps some other news clippings from the Palawan District. They will show you, that there is a huge oposition from the general public, the press, the environmental groups (including GREENPEACE!) as well as the NGO's. Tito Mata, head of the Dumadoay Foundation (an NGO organisation) told FENWAY's representatives that their community will not leave their ancestral land at any cost.
Don't forget, the NGO's where the once who send projects such as Bolinao and Javlon down the drain.
In my personal opinion, FENWAY's project will never ever get off the ground. The whole thing smells very much like a dead fish allready.
Stay tuned, financial analysis to follow soon. |
