Ramon Ang rejects P3-B daily income claim, open to COA audit of Petron

Manila Bulletin

Business tycoon Ramon Ang rejected the claim raised by Senator Rodante Marcoleta that oil firms earn P3 billion per day, saying he is willing to open the books of Petron Corporation to the Commission on Audit for transparency.  Ang said the company is ready to cooperate with government scrutiny to clarify the issue, while assuring the public it will not take advantage of the ongoing fuel crisis amid rising tensions in the Middle East.  He also expressed openness to selling the fuel firm back to the government if it would help address supply concerns and stabilize the situation.

Transcript

00:00So, I am willing to open Petron books to Goa, to public disciplinary.

00:08Wala po kaming gustong i-take advantage na kita, especially during the crisis.

00:14Pag tinignan mo yung Petron, ang sales revenue po, 800 billion a year, 700 billion a year.

00:20Magkano yung income?

00:22Gano'n lang po ang income.

00:246-7 billion a year in the Philippines.

00:27Mas malaking kita sa Malaysia. Ano mo bakit?

00:30Kasi ang Malaysia, guarantee profit ang other countries.

00:34Binibigyan yung oil companies ng guarantee profit.

00:37Pilipinas lang wala kasi deregulated tayo, market force, which our neighboring countries will copy soon.

00:46Hindi deregulate na rin nila yung oil industry nila.

00:49Dahil ngayon po, ang subsidy ng Malaysia, Indonesia, Thailand, mga 20, 30, 40 billion dollars a year, especially in the

00:59crisis like this.

01:01Which country can afford that continuously?

01:04Eh, mahirap ba no?

01:05So,

01:08makasahan niyo na we will make sure na hindi makubusan ang people ng Pilipinas.

01:12Salamat po.

01:13Amen.

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