MALACAÑANG on Wednesday said that government is ready to take control of the National Grid Corp. of the Philippines (NGCP) if it becomes vulnerable to a takeover by a foreign entity.
Sen. Raffy Tulfo, head of the Senate Committee on Energy, filed Senate Resolution 609 to investigate the NGCP, citing a possible security threat in connection with the territorial dispute between the Philippines and China in the West Philippine Sea.NGCP is 40 percent owned by the State Grid Corp. of China while the remaining 60 percent belongs to a group of Filipino businessmen led by Henry Sy Jr. and Robert Coyiuto Jr.
In the Senate, Tulfo and fellow Senators Mary Grace Poe, Ana Theresia 'Risa' Hontiveros and Maria Lourdes Nancy Binay pushed for an audit of the NGCP amid power outages being experienced in various parts of the country during the Senate Committee on Energy public hearing on power disturbances.Poe called for an audit of the NGCP's performance as a public service provider, noting the franchise it holds is a privilege.
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