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Government Service Insurance System (GSIS) President Winston García, however, blamed Meralco's inefficiency, its "bloated bureaucracy" and its sourcing of power from independent power producers (IPPs) also owned by the López Family, and the need to amend the Electric Power Industry Reform Act (EPIRA) of 2001. Oscar López said that if the ...
11. Sanctions. – A. If the respondent is guilty of a serious charge, any of the following sanctions may be imposed: 1. Dismissal from the service, forfeiture of all or part of the benefits as the Court may determine, and disqualification from reinstatement or appointment to any public office, including government-owned or controlled corporations.
But although Meralco was a stable and highly profitable enterprise, the government's decree of pushing for more Filipino participation in the business prodded General Public Utilities (GPU) president Albert F. Tegen, to find a buyer for the company.
Meralco was established as the Manila Electric Railroad and Light Company in 1903. It was created to provide light and an electric railway system to Manila. During World War II the transportation infrastructure of Meralco was destroyed and instead of rebuilding the railway, the company focused its efforts onto its electric services.
Alaminos; Alfonso; Amadeo; Angat; Angono; Antipolo; Apalit [r]; Bacoor; Balagtas; Baras, Rizal; Batangas City; Bay; Biñan; Binangonan; Bocaue; Bulakan; Bustos ...
In the Philippines, a government-owned and controlled corporation (GOCC), sometimes with an "and/or", [1] is a state-owned enterprise that conducts both commercial and non-commercial activity. Examples of the latter would be the Government Service Insurance System (GSIS), a social security system for government employees.
Other companies were sometimes absorbed into these government-owned corporations, as well as other companies, such as National Power Corporation (Napocor) and the Philippine National Railways, which in their own right are monopolies (exceptions are Meralco and the Manila Hotel). Today, these companies have been reprivatized and some, such as ...
The Lopez family owned 33% shares of the MERALCO, the rest of the shares being owned by the public. To force Lopez to give up his shares, the Marcos government reduced the authorized utility rate increase from 36.5% to 20.9%, forcing MERALCO to incur losses.