Monday, July 21, 2014

Indonesian-owned @MERALCO sucks profits out of the #Philippines while Pinoys grope in the dark! #asean

The perils of allowing foreigners to own key infrastructure management and development companies and entrusting an incompetent government to keep it honest...

"I've just read all of Meralco's annual reports from 2007 to 2013. There is not a single sentence in any of these reports that Meralco has strengthened, or even plans to strengthen, its infrastructure to withstand typhoons as our neighboring countries have done with their electricity systems.

"The responsibility given by the government to Meralco, in exchange for having a monopoly over some 5 million households, is not just to provide electricity at normal times. It is to build a power infrastructure that can resist the most powerful of typhoons, as Metro Manila and the adjacent regions make up an area hit every year by typhoons."

Read the full article by Bobi Tiglao:

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