Customers endure long lines at the Meralco business center along Commonwealth Avenue in Quezon City to pay their electricity bills. (GRIG C. MONTEGRANDE / Philippine Daily Inquirer)
MANILA, Philippines 鈥� A group has called on the House of Representatives to pass a bill that will give the Manila Electric Company (Meralco) a new franchise.
The House committee on legislative franchises said it has received a letter from the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI).
The foundation endorsed proposals for a fresh 25-year franchise for Meralco.
According to the group, granting Meralco a new franchise will stabilize electric supply, which is crucial to the growth of the semiconductor industry in the Philippines.
鈥淎midst the country鈥檚 ongoing economic progress, we extend our full support for Meralco鈥檚 franchise renewal as they contributed significantly to the industry鈥檚 status as the country鈥檚 leading exporter,鈥� SEIPI President Dan Lachica said in the letter.
鈥淭his will give confidence to foreign investors, as it will signal stability in our economic landscape,鈥� he told lawmakers.
READ: Salceda: New Meralco franchise good for economy; Makabayan wants no rush聽
Bills seeking a new legislative franchise for Meralco are being deliberated at the committee level.
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Previously, the Makabayan bloc said the hearings for聽Meralco鈥檚 new franchise should not be rushed because many issues have to be reviewed.
ACT Teachers Party-list Rep. France Castro (File photo from the Facebook page of the House of Representatives)
ACT Teachers party-list Rep. France Castro said she hopes the committee on legislative franchises would be able to study it properly first, especially since Meralco鈥檚 franchise would last until 2028.
READ: New hearing must be held on concerns about Meralco franchise 鈥� Tambunting聽