Marcos: Gov鈥檛 to reclaim control of NGCP if necessary
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. has said the government would regain control over the National Grid Corporation of the Philippines (NGCP) if needed.
Marcos issued the remark after Senator Raffy Tulfo informed him of his intention to assess the performance of the NGCP and examine its security aspect, to which the President agreed, the Presidential Communications Office (PCO) said Wednesday.
“The President agreed with the Senator’s proposal to conduct a comprehensive study or hold hearings to determine the actual situation. If necessary, the government will take back control of the entity,” the PCO said in a statement.
Tulfo earlier said he had warned Marcos how the Chinese ownership of the NGCP may pose a possible severe national security threat considering the current conflict between China and the Philippines over the West Philippine Sea (WPS).
NGCP, the country’s energy grid systems operator, is 40% owned by the State Grid Corporation of China, while 60% of its capital stakes are Filipino-owned.
Article continues after this advertisementThe senator also said he told the President of NGCP’s violations of its franchise contract, such as its failure to follow timely development and connectivity in the primary grid of energy power in various provinces.
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Tulfo to Marcos: China’s ownership of NGCP may pose a national threat
