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Good moves C.R.O.S.S.R.O.A.D.S Jonathan De la Cruz 07/07/2010

Wednesday, July 7, 2010

Good moves



C.R.O.S.S.R.O.A.D.S
Jonathan De la Cruz
07/07/2010

It is good that newly appointed Energy Secretary Rene Jose Almendras has deferred any action on the proposed sale of the government’s 10 percent stake in the multibillion-dollar Malampaya gas project. That gives one and all, including the old set of directors which failed to firm up a decision on the matter until it was unceremoniously changed toward the end of the term of the previous administration, to come out with their suggestions on how best to handle this issue. As Almendras himself correctly noted “...it is best that the board issues be resolved first then we will study how the Malampaya approach is going to be, or even ask the question: Do we really want to sell Malampaya if it’s generating revenues for the government today...” Which is how it should have been worked out in the first place. For if truth be told, the sale of assets such as the revenue rich Malampaya stake, considered one of the remaining “crown jewels” among government properties, should really be as deliberate as can be.... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20100707com4.html


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