NGCP, umaasa na mabibigyan ng patas na pagkakataon para magpaliwanag

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Transcript

00:00The franchise of the National Grid Corporation of the Philippines is about to be revoked

00:05if some violations of the agreement can be proven.

00:10This is the story of Daniel Manalastas.

00:14The congressmen want to review the franchise of the National Grid Corporation of the Philippines

00:19after hearing the House Committee on Legislative Franchises, the NGCP,

00:24on some of its problems, on some projects.

00:27Deputy Speaker J.J. Suarez wants an in-depth study on the performance of the NGCP

00:32as well as their franchise.

00:34The NGCP has an objection.

00:37If you think that this franchise needs to be revoked, let's do it.

00:41Maybe we should call for a fair chance to explain the issues that were raised earlier.

00:49Because all of those are not new.

00:51Some congressmen also criticized the projects that are not yet completed

00:56but when it comes to hearing, the people are paying for it.

00:59NGCP had 227 projects under the Transmission Development Plan.

01:05Some are already done, some are not.

01:07There were 111 approved by ERC.

01:11Some of them were completed, some of them are ongoing.

01:14Don't you think that this is wrong and highly immoral?

01:19That the projects that are not yet completed,

01:22that are not yet consumed,

01:24that are not yet proven efficient,

01:27are being paid by the people?

01:29Why are they objecting to a project that is not yet benefited by the people?

01:33The system, the regulatory framework governing transmission and distribution

01:40is supposed to be forward-looking.

01:43Historically, the ERC has allowed us on an as-spent basis

01:49unlike an ordinary small value good that you pay before you use.

01:54These are large infrastructure capital expenditure projects.

01:58Like an ordinary contractor,

02:00when we pay for the construction of a house,

02:03the contractor will not pay for it.

02:06Even the dividends that go to shareholders were questioned.

02:11Why is the dividend that you give to your shareholders so large?

02:18In 2015, your income was Php 22 billion,

02:22but the dividends, Php 21 billion, 93%.

02:26Php 20 billion, Php 19 billion are your dividends.

02:31The funding for projects doesn't come just from internally generated cash.

02:38So the dividends mentioned come from retained earnings.

02:41So that isn't exactly, with all due respect to how it works,

02:45that your dividends will be necessarily from your earnings.

02:50According to the NGCP, they are ready to explain,

02:53even to the perpetrators of corruption.

02:55The NGCP, the investigation that we conducted,

02:59we are following it.

03:01If they have a feeling that something needs to be changed,

03:05we are already out there and we are a private company

03:08that only follows the orders of our lawmakers.

03:11The committee invited the NGCP officials

03:15as well as the shareholders

03:17to clarify what they are investigating.

03:19Daniel Manalastas for Pambansang TV in Bagong, Philippines.

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Transcript

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