The water source should not be privatized so a company can make money on it. It should be regulated by the government because it belongs to all the citizen of the Philippines. Corporations with just charge a lot money for a small benefit to the people and probably take short cuts to maximize profits.
The Philippines should not privatize its water supply. Privatizing water supplies means that water would be in the general control of one person or a board (very few people). Because water is a necessary commodity for life, it should never be controlled by a small group of people or one person.