Statement of Senator Risa Hontiveros on Maharlika Fund's purchase of 20 percent stake in NGCP
January 29, 2025
Statement of Senator Risa Hontiveros on Maharlika Fund's purchase of 20 percent stake in NGCP
The sudden purchase by the Maharlika Investment Fund of a 20 percent stake in the National Grid Corporation of the Philippines (NGCP) raises more questions than assurances for consumers.
Una, gusto ba ng gobyerno na mas maimpluwensiyahan ang kalakaran ng NGCP sa pamamagitan ng dagdag na board seats? Kung iyan ang layunin, bakit hindi na lang natin pakinggan ang panawagan na ibalik sa pamahalaan ang kontrol sa systems operation function ng NGCP?
Walang epekto ang MIF investment sa 40 percent stake sa NGCP ng isang Chinese state firm, na may veto power pa. MIF's 20 percent share was taken from Synergy Grid Corporation, the Filipino consortium led by Henry Sy that controls 60 percent shares in NGCP. We have to begin looking at all our options, including the re-nationalization of our power grid, as done by countries like the United Kingdom.
Ikalawa, talaga bang mapapababa ng MIF investment ang ating buwanang bill ng kuryente at mapapalakas ang power reliability ng bansa? As of now, NGCP is raking in unconscionable profits for its shareholders even while delivering unsatisfactory service to Filipinos and leaving critical transmission projects unfinished.
Pangatlo, makikisali ba ang MIF sa napakaraming kontrobersiya na hinaharap ng NGCP, gaya ng P8.7 billion na security at janitorial expenses na gustong ipasa ng NGCP sa consumers? Nakakagulat na ngayon pa naginvest ang MIF sa NGCP, ngayong may posibilidad na ma-cancel o ma-amyenda ng Kongreso ang prangkisa nito.
When I voted against the Maharlika Investment Fund Act, I said that government should not be reckless with the people's money. Hindi magandang senyales na sa dami ng pwede nitong pasukin, ang unang investment ng MIF ay sa panay kontrobersiya na NGCP.
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