CITING "substantial fiscal risks," President Ferdinand "Bongbong" Marcos Jr. vetoed a proposed bill to build the Bulacan Airport City, a project of San Miguel Corp. (SMC), as a special economic zone and freeport, a Palace official confirmed on Saturday.
"We confirm that the president signed the veto of HB 7575 entitled, 'AN ACT ESTABLISHING THE BULACAN AIRPORT CITY SPECIAL ECONOMIC ZONE AND FREEPORT, PROVINCE OF BULACAN AND APPROPRIATING FUNDS THEREFOR,'" Press Secretary Trixie Cruz-Angeles said in a statement.
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