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Semiconductor group prods House panel to renew Meralco franchise 

20240401_182310(1).jpgHouse of Representatives (Ellson Quismorio/ MANILA BULLETIN)

House members’ proposal to renew the franchise of the Manila Electric Company (Meralco) for another 25 years has gained the support of the semiconductor organizations in the country.

The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) endorsed the franchise renewal of Meralco through a letter sent to the House Committee on Legislative Franchises chaired by Parañaque City 2nd district Rep. Gus Tambunting.

In a letter dated June 4, SEIPI President Dan Lachica asked the Tambunting panel to “favorably consider” SEIPI’s position in the ongoing deliberations of Meralco’s legislative franchise.

“[Amid] the country’s ongoing economic progress, we extend our full support for Meralco’s franchise renewal as they contributed significantly to the industry’s status as the country’s leading exporter. This will give confidence to foreign investors, as it will signal stability in our economic landscape,” Lachica said in the letter, a copy of which was acquired by this reporter.

He acknowledged Meralco as a “collaborative partner” of SEIPI and its member companies.

“The utility had been providing excellent service and constantly investing in capital expenditure projects in economic zone locations and industrial parks to meet the robust power quality that is needed by our industry to be globally competitive,” Lachica added.

SEIPI is a leading organization of multinational and Filipino-owned semiconductor and electronics companies in the Philippines with over 360 members including manufacturing firms, allied and support industries, and the academe.

SEIPI, as an umbrella organization has stated in the past that its members heavily rely on power quality, stability of supply vis-a-vis demand, and sound policy advocacies that Meralco as the premiere distribution utility in the country can provide.

Earlier, Cagayan de Oro City 2nd district Rep. Rufus Rodriguez hailed the Makati Business Club (MBC) and Management Association of the Philippines’ (MAP) endorsement of his House measure for the renewal of the Meralco franchise.

“The support of these widely respected business groups for the renewal of Meralco’s franchise for another 25 years, as proposed in our House Bill (HB) No. 9813, is a step in the right direction,” Rodriguez said.

Aside from Rodriguez, Marinduque lone district Rep. Lord Allan Velasco and Albay 2nd district Rep. Joey Salceda are also batting for Meralco’s franchise renewal.

The power distribution giant’s current franchise will expire in 2028.

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Credit belongs to : www.mb.com.ph

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