Consing: OK to invest Maharlika Fund in NGCP
Maharlika Investment Corporation president and chief executive officer Rafael Consing Jr. said on Saturday that he is endorsing the proposal of House Speaker Martin Romualdez for MIC to strategically invest in the National Grid Corporation of the Philippines.
Consing expressed his support for strengthening the country's energy sector a day after Romualdez floated the idea, as several areas in the Western Visayas experienced blackouts this month.
The MIC president and CEO said such investment would allow MIC to become a dedicated partner in tackling the Philippines' complex energy challenges.
"The National Grid Corporation of the Philippines is the backbone of our nation's power system, and its stability is inextricably linked to the Philippines' economic and social well-being. I fully endorse Speaker Martin Romualdez's proposal for the Maharlika Investment Corporation to invest in NGCP strategically," Consing said.
"This move holds immense potential to strengthen our energy sector and pave the way for a brighter future," he said.
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Consing emphasized further that MIC may "accelerate critical infrastructure upgrades, promote renewable energy integration, and improve overall grid efficiency by leveraging its unique financial resources and development expertise."
Lower energy prices are one of the partnership's observable benefits, and Consing noted that a more dependable and resilient system may empower communities.
Additionally, the investment will support public-private collaborations in the energy sector, which have the potential to establish a positive precedent for sustainable growth in other crucial infrastructure areas.
Consing admitted that significant thought and extensive due research are still necessary before making such an investment.
"Transparency and accountability must be paramount throughout the process to ensure efficient use of public funds and maximum benefit for the nation. However, the potential rewards are well worth the exploration," Consing said.
"Investing in NGCP through Maharlika is about investing in the Philippines' future. It will be a bold step towards securing our energy independence, fueling economic prosperity, and ensuring a brighter tomorrow for every Filipino," he added.
