Lawmaker endorses renewal of Meralco legislative franchise

Another official of the House of Representatives has endorsed the renewal of the legislative franchise of the country's largest power distribution firm, the Manila Electric Co. (Meralco), for another 25 years.

- DELON PORCALLA

"Renewing the franchise of Meralco will show potential investors that capital-heavy investments can benefit from long-term stability here in the Philippines as it is safeguarded by the government," Cagayan de Oro 2nd District Rep. Rufus Rodriguez, who chairs the House committee on constitutional amendments, said.

"This, in turn, will result in improved service and economic conditions for Filipinos in the long run," Rodriguez, who also sits as a member of the House committees on energy and economic affairs, added.

The senior administration lawmaker recently filed House Bill 9813 for the grant of a 25-year legislative franchise to Meralco - a measure that the lawmaker emphasized is necessary to build investor confidence in the country.