00:00The people will now have a voice and the government will also have an influence
00:05on the decisions of the National Grid Corporation of the Philippines, or NGCP.
00:10This is after the Maharlika Investment Corporation bought its 20% share.
00:16This is Claycel Pardilian of PTV with the news for the country.
00:22More than a year after the establishment of the Maharlika Investment Fund
00:27that was headed by the Maharlika Investment Corporation,
00:31which was the first to build it.
00:34The Senior Grid and Development Philippines, or SGP,
00:38was accepted by the administration of President Ferdinand R. Marcos Jr.
00:43That is the purchase of 20% of the National Grid Corporation of the Philippines, or NGCP.
00:50The ownership of the SGP is more than 40% of the NGCP,
00:55a private corporation that runs the country's power grid and distributes electricity
01:01from plants to power distributors such as Meralco.
01:06This means, said President Marcos,
01:09that the people will now have a voice and the government will have an influence
01:14on the decisions of the NGCP to ensure a stable supply
01:18and a stable supply of electricity.
01:21Under the agreement signed by President Marcos,
01:26the Maharlika Investment Corporation is given the power to choose a share in the SGP.
01:33The government will also have two positions on the board of both the SGP and NGCP.
01:39Aside from helping with the supply and price of electricity,
01:43it is also expected to contribute to the establishment of the Maharlika Investment Fund.
01:48The Maharlika Investment Fund has an initial capital of Php 125 billion
01:54from government funds that can be used for investment
01:58to further improve the country's economy.
02:02Reporting from PTV Manila, Clazel Pordilia, Balitang Pambansa.
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