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NGCP, umaasa na mabibigyan ng patas na pagkakataon para magpaliwanag
PTVPhilippines
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12/23/2024
NGCP, umaasa na mabibigyan ng patas na pagkakataon para magpaliwanag
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Transcript
Display full video transcript
00:00
The franchise of the National Grid Corporation of the Philippines is about to be revoked
00:05
if some violations of the agreement can be proven.
00:10
This is the story of Daniel Manalastas.
00:14
The congressmen want to review the franchise of the National Grid Corporation of the Philippines
00:19
after hearing the House Committee on Legislative Franchises, the NGCP,
00:24
on some of its problems, on some projects.
00:27
Deputy Speaker J.J. Suarez wants an in-depth study on the performance of the NGCP
00:32
as well as their franchise.
00:34
The NGCP has an objection.
00:37
If you think that this franchise needs to be revoked, let's do it.
00:41
Maybe we should call for a fair chance to explain the issues that were raised earlier.
00:49
Because all of those are not new.
00:51
Some congressmen also criticized the projects that are not yet completed
00:56
but when it comes to hearing, the people are paying for it.
00:59
NGCP had 227 projects under the Transmission Development Plan.
01:05
Some are already done, some are not.
01:07
There were 111 approved by ERC.
01:11
Some of them were completed, some of them are ongoing.
01:14
Don't you think that this is wrong and highly immoral?
01:19
That the projects that are not yet completed,
01:22
that are not yet consumed,
01:24
that are not yet proven efficient,
01:27
are being paid by the people?
01:29
Why are they objecting to a project that is not yet benefited by the people?
01:33
The system, the regulatory framework governing transmission and distribution
01:40
is supposed to be forward-looking.
01:43
Historically, the ERC has allowed us on an as-spent basis
01:49
unlike an ordinary small value good that you pay before you use.
01:54
These are large infrastructure capital expenditure projects.
01:58
Like an ordinary contractor,
02:00
when we pay for the construction of a house,
02:03
the contractor will not pay for it.
02:06
Even the dividends that go to shareholders were questioned.
02:11
Why is the dividend that you give to your shareholders so large?
02:18
In 2015, your income was Php 22 billion,
02:22
but the dividends, Php 21 billion, 93%.
02:26
Php 20 billion, Php 19 billion are your dividends.
02:31
The funding for projects doesn't come just from internally generated cash.
02:38
So the dividends mentioned come from retained earnings.
02:41
So that isn't exactly, with all due respect to how it works,
02:45
that your dividends will be necessarily from your earnings.
02:50
According to the NGCP, they are ready to explain,
02:53
even to the perpetrators of corruption.
02:55
The NGCP, the investigation that we conducted,
02:59
we are following it.
03:01
If they have a feeling that something needs to be changed,
03:05
we are already out there and we are a private company
03:08
that only follows the orders of our lawmakers.
03:11
The committee invited the NGCP officials
03:15
as well as the shareholders
03:17
to clarify what they are investigating.
03:19
Daniel Manalastas for Pambansang TV in Bagong, Philippines.
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