Govt urged to reorganize state power firm
Albay 2nd District Rep. Joey Salceda says that the National Grid Corporation of the Philippines must be reorganized and ownership returned to Filipinos after a hearing by his panel on Jan. 7, 2025 learned that the NGCP was being headed by a Chinese national and that the State Grid of China, the partner of NGCP, gained the 'right to run' it. He also pushed for the refund of NGCP's excess income amounting to P204.3 billlion due to regulatory lapses and tax exemptions. Salceda says the Quinta and energy committees will be tasked to investigate the alleged NGCP ' lapses.
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Albay 2nd District Rep. Joey Salceda says that the National Grid Corporation of the Philippines must be reorganized and ownership returned to Filipinos after a hearing by his panel on Jan. 7, 2025 learned that the NGCP was being headed by a Chinese national and that the State Grid of China, the partner of NGCP, gained the 'right to run' it. He also pushed for the refund of NGCP's excess income amounting to P204.3 billlion due to regulatory lapses and tax exemptions. Salceda says the Quinta and energy committees will be tasked to investigate the alleged NGCP ' lapses.
VIDEOS BY RED MENDOZA
Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe
Visit our website at https://www.manilatimes.net
Follow us:
Facebook - https://tmt.ph/facebook
Instagram - https://tmt.ph/instagram
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DailyMotion - https://tmt.ph/dailymotion
Subscribe to our Digital Edition - https://tmt.ph/digital
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Check out our Podcasts:
Spotify - https://tmt.ph/spotify
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NewsTranscript
00:00... We are just waiting for our plenary to give a mandate to the 5th Committee, including the Committee on Energy, to discuss the NGCP issue."
00:21Q. Sir, pinagdik niyo rin kanina sa hearing yung connection to the Communist Party of China?
00:26A. Hindi po. Yung dokumento ay galing po sa CCP. At yung report ng mga nagpapatakbo dito, nag-report sila sa CCP.
00:38Q. So are we going to invite our defense agencies din po sa hearing?
00:46A. Definitely, national security is an issue here. Because they have violated the 60-40 rule.
00:53Because they are 7.8% above the maximum 40% ownership by foreigners of public utilities.
01:02And clearly, NGCP is a public utility under both the PSA as well as the Constitution.
01:09Q. Sir, can you describe how it is shaping up so far?
01:15A. Mula, unang-unang, pabagsakang nasi-singil kasi gawa ng maraming illicit trade.
01:23Kasi paano naman lalabas na dumadami po yung smokers from 19 to 24.4, pero bumababa yung singil.
01:34Sinagsabihin may iba silang kinokonsumo. So dalawa lang yan, yung illicit trade ng smoking at saka po yung vapes.
01:47So ngayon, isa sa tinignan natin ay itaasan po natin ang risk sa vapes.
01:52Kasi nga po, pag tinian mo yung idad 19 to 24, 60% na ang manufactured cigarette and 39.9% is actually vapes.
02:05So talagang lumalaki na po ang pinag-uusapan ngayon.
02:09Kasi yung 204 minimum yun. Kasi yun ay yung mga completed projects.
02:14Pag sinama mo yung incomplete projects na hindi binila ng ARC, mas malaki pa sa 204 minimum.
02:44Unang-una, kasi si Cong. Dagook noong isang taon, talagang sa pamamagitan po ng committee on race and means, talagang in-explain natin at nakuha namin ng ruling ng ARC na dapat yung franchise stock na 3% vaccine hindi pwedeng i-pass on sa consumers.
03:06So simula lang yun noong 2018. So ngayon sabi ko, total ang pinanggalingan naman ng pag-pass on ng 3% ay 2011, ay isang ARC decision.
03:20So inihingi namin sa ARC na kung pwede i-retroactive sa 2011 yung hindi pag-pass on po, halos P3B din po yun ng franchise stock sa mga ordinary consumers.
03:39Q. Sir pero hindi amenable yung ARC dalang sabi nila 2023 onwards yung resolution nila?
04:09Pag-tunan ng pansin, yung 204B na sinabi ng ARC, ang numbers di naman galing sa amin.
04:40Hindi naman. Doon lang yun sa kay Dagoo. Kasi yung number na 204, kung may number up before 204, kasi nakuha nila may 2009.
04:55Q. So you're so sure na yung 204B, it's just a matter of time?
05:25Pag-tunan po sa 60-40 ruling pagdating sa public utilities. Yung mamay-ari ang nakaupo bilang chairman, actually dapat hindi po pwede. Kasi pwede kang lumampas sa ownership pero hindi po pwede sa management control.
05:55So may prima fase evidence that there is. Last week, makikita mo sa stock market, parang nag-localize yung binenta yung foreign owners sa local ownership.
06:25Thank you for watching!