Lawmakers in Congress are currently making certain moves aimed at controlling the skyrocketing fuel prices in our market. This was discussed during the recent meeting of the Committee on Ways and Means.
The CEO of Petron Corporation Ramon S. Ang was present during this meeting, and the renationalization of the big-ticket fuel corporation was brought up. RSA responded by saying that he is ready to sell the company back to the government and even presented potential payment terms.
“Yung sina-suggest na bilhin ng gobyerno ang Petron, privatization, anytime po, pwede ko pa ipa-utang sa Philippine government,” he said. “Bilhin ninyo ito nang over five years to pay. I swear, kung gusto ng gobyerno bilhin, ihanda niyo na. Sabihin niyo na, at ibebenta ko agad sa inyo.
“Pagawan niyo na ng valuation immediately, walang arte-arte. Last year we lost P18 billion—you can check that—in Petron. So hindi kami yung nagku-kunyari-kunyari dito ngayon,” Ang added. “Kung sa tingin niyo jackpot yang negosyong yan, let the government buy it. At the market valuation lang, hindi ko kailangan tubuan ang gobyerno.”
Petron used to be a state-owned and -controlled company. San Miguel Corporation started its acquisition by buying majority shares back in 2010. According to a recent report by Manila Bulletin, House Deputy Minority leader and Bayan Muna Representative Carlos Isagani Zarate claims this buyback of the company has been put forward by the Bayan Muna partylist since 2015.
No concrete decision was made yet, nor are there any updates regarding the matter. In case there will be such a big announcement, we’ll keep you posted. For now, you can chime in on the matter via the comments section.
