Noynoy hit for rejecting offer to buy back Petron
By Charlie V. Manalo 10/21/2011A militant lawmaker yesterday lashed out at President Aquino for outrightly rejecting proposals for the government to buy back its shares in Petron even without consulting the firms major shareholders, the people included, saying it was undemocratic on the part of the President.
“President Aquino’s unthinking rejection of the offer to buy back Petron without consulting all the major stakeholders, including majority of the Filipino citizens whose household budgets are greatly affected by the continuing increase in oil prices, smacks of autocratic leadership,” said Gabriela Rep. Emmi de Jesus after Aquino rejected Petron’s offer to sell its refinery in Limay, Bataan.
“Refusing to buy back Petron is also an obvious rejection of the call to nationalize the oil industry. That the government has no money to buy back Petron and is inefficient to run something that has a purely business application are lame excuses,” De Jesus said..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/metro/20111021met1.html
1 comment
_noy na tuta kasi ng foreign interests eh.
"“Refusing to buy back Petron is also an obvious rejection of the call to nationalize the oil industry. That the government has no money to buy back Petron and is inefficient to run something that has a purely business application are lame excuses,” De Jesus said.
"Militant lawmakers, including De Jesus, have been calling on the government to buy back Petron after the Commission on Audit and the Department of Energy reported that the total Malampaya funds collected since 2002 up to June 30, 2011 and were placed in Fund 151 had amounted to around P115 billion."
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