Group urges House panel to grant approval for new Meralco franchise

A group has petitioned the House of Representatives to pass a bill granting the Manila Electric Company (Meralco) a new franchise. The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) endorsed proposals for a fresh 25-year franchise for Meralco, emphasizing the importance of stabilizing electric supply for the semiconductor industry’s growth in the country. SEIPI President Dan Lachica highlighted Meralco’s vital role in supporting the industry as the leading exporter. Foreign investors are urged to consider the stability signal a new franchise would provide in the economic landscape. Bills for Meralco’s new legislative franchise are under committee deliberation, with calls from various groups to ensure a thorough review before rushing the process. ACT Teachers party-list Rep. France Castro also emphasized the need for careful evaluation, especially since Meralco’s franchise would extend until 2028.

Leave a Reply