📷Gabriela Women’s Party Rep. Arlene Brosas
Assistant Minority Leader and Gabriela Women’s Party Representative Arlene Brosas denounced the Marcos Jr. administration’s move to acquire stakes in the National Grid Corporation of the Philippines (NGCP) through the controversial Maharlika Investment Corporation (MIC), calling it a dangerous scheme that gambles public funds while enriching corporate cronies.
“This is nothing but crony capitalism in its worst form. The Marcos Jr. administration is gambling people’s money by investing in Henry Sy Jr.’s Synergy Grid and Development Philippines (SGP) while opening doors for other cronies to profit from NGCP. Essentially, they’re raiding government-owned and controlled corporations (GOCCs) to fund the Maharlika Investment Fund, only to use it in questionable deals that benefit big business interests,” Rep. Brosas said.
The lawmaker emphasized that the deal does nothing to address the fundamental issues plaguing the power sector.
“Ang corporate maneuvering na ito ay hindi magpapababa ng singil sa kuryente o magpapahinto ng brownouts. Ang ordinaryong mamamayan pa rin ang magdurusa sa mataas na singil sa kuryente habang pinagpipyestahan ng mga crony ang kita mula sa power sector,” Brosas stated.
“How will having two board seats solve the rotating brownouts, high electricity rates, and unstable power supply that ordinary Filipino families have to deal with? This is clearly not about improving services but about controlling profitable assets and enriching cronies like Henry Sy Jr.,” Brosas stressed.
The lawmaker pointed out that the deal’s timing and structure raise serious concerns about transparency and public interest. “Bakit bigla na lang may ganitong deal? Sino ang tunay na makikinabang? The Filipino people deserve to know the full details of this transaction that involves their hard-earned money.”
“From the very beginning, Gabriela Women’s Party has strongly opposed the Maharlika Investment Fund during congressional deliberations because it is fundamentally flawed. It’s designed to concentrate capital in the hands of a few while putting public funds at risk. This NGCP deal proves our point – it’s nothing but a mechanism for crony capitalism,” Brosas emphasized.
“We demand full transparency and accountability. The House of Representatives must exercise its oversight functions to scrutinize this deal. Hindi pwedeng ipagkatiwala na lang basta-basta ang ating power grid sa mga bagong crony ng administrasyon, lalo na’t walang garantiya na magkakaroon ng abot-kayang at stable na supply ng kuryente,” Brosas concluded. #
