When governments show their ugly teeth before their constituencies, things turn into a destabilizing situation. Government intervention has always been perceived as negative, whether done legally or illegally. That’s why people hate it when government thru its factotums, the GSIS and the SEC, use their powers against perceived strong enemies, like the Lopezes. Yes, it’s true we need to wrest control of Meralco from this oligarch, but doing it like what Garcia wants sends a very different message.
That’s why Arroyo should not misled us into believing that they are not part of this plot to gain control of Meralco. Arroyo, through her mouthpiece, Presidential spokesperson Ermita, is employing double talk again. Ermita says they’re not supporting Garcia but in truth, the palace is behind these moves because it shows that they support the GSIS provided that these moves are done in a legal way.
Garcia promised a 20% reduction in electricity rates if he wins this fight. Crap. As I’ve said in previous entries, yes, Meralco will probably lower its rates that much in the interim. After a few weeks, expect the rates to return to its original price ranges. Why? Because Garcia has a mandate to other shareholders. A firm should earn revenues. Lowering the rates will affect profitability. Another thing is rising oil prices. I bet that Meralco will use this issue to justify high electricity rates.
Manuel L. Quezon III: The Daily Dose » Blog Archive » Mindanao hitting the fan?
1 year ago
[...] them. Blogger lubikra, for one, looks forward to the breaking up of the Meralco franchise area. Pinoy Observer is skeptical about anything happening, and Too Early thinks this means the public will get [...]