The Representative of Quezon Province 3rd District seeks the return of the 40 percent share of a Chinese state-owned firm in the National Grid Corporation of the Philippines (NGCP) to Filipino owners. NGCP is the manager and operator of the country’s power transmission system, which is an industry vital to national security. NGCP acquired the 25-year concession of the National Transmission Corp. (Transco) in an auction conducted by the Power Sector Assets and Liabilities Management (PSALM) Corp. in 2008. During a hearing on Tuesday, the House Energy Committee deliberated on House Resolution (HR) 280 which calls for a review of foreigners’ participation in NGCP. Cynthia Alabanza, NGCP spokesperson and adviser for external affairs, told reporters that the company has no quarrel with such a proposal at this point.

Source: Manila Times March 07, 2017 18:00 UTC