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Statement of Senator Risa Hontiveros on proposals to buy back China’s shares in NGCP due to security reasons

PHILIPPINES, May 15 - Press Release
May 15, 2023

STATEMENT OF SENATOR RISA HONTIVEROS ON PROPOSALS TO BUY BACK CHINA'S SHARES IN NGCP DUE TO SECURITY REASONS

I maintain my position that transmission lines, which are a key backbone of the entire power industry, should not have been privatized in the first place. For two primary reasons: One is national security; the other is government financial losses, including tax revenue.

As a result, I wholeheartedly support Sen. JV's proposal to reclaim control of the national grid, particularly from Chinese control. Based on expert testimony submitted during earlier Senate investigations, China acquired the upper hand in regulating the system functioning of the grid because it owns 40% of the consortium.

Likewise, I would extend this desire for strategic state control of the grid up to the level of NGCP. However, that would be the subject of extensive discussions and a comprehensive review of one of the most contentious concession agreements, especially after a performance audit is conducted to determine whether the local consortium is up to the job in light of the country's current power woes.