We strongly oppose the Arroyo government’s plan to
take over the Manila Electric Company even as we call on Meralco to stop
foisting increased power rates by passing on to consumers the costs of its
inefficiencies.
The
government takeover plan of Meralco runs counter to Mrs. Arroyo’s declared, and
consistently pursued policy to privatize the power sector. Although we have batted
for state control of the industry to safeguard public interest, we look askance
at this volte-face as highly dubious, to say the least.
