Manila, Philippines
Vol. 2 No. 306 |Monday  December 4, 2006
 
 
 
 
 
 
  Companies
  Shipping
 
  Perspective
  Life
  Sports
  Special Feature
  Motoring



Anchored by Jonathan dela Cruz, Salvador Escudero,
Boying Remulla, Teddy Boy Locsin and Alvin Capino

Monday to Friday,
8-10 a.m.


Click here to listen to Karambola.

Weak heart, stomach? Don’t join the govt

By Max de Leon
Reporter

WORKING under the administration is not for the weak of heart and queasy stomach.
           
This in effect was what resigned Philippine National Oil Company president Eduardo Mañalac told a group composed mostly of British businessmen and executives Thursday night when he was asked to give the “real” reasons for his departure from the state-owned company.
           
Mañalac, who relinquished his post early November, narrated at the British Chamber of Commerce networking night at the New World Hotel that prior to his resignation, he had consultations with some people in the government who are close to him.
           
In his meeting with Lakas Rep. Joey Salceda of Albay, an economic adviser of the President, Mañalac said he asked where he would be of better service to the country, within or outside the government.
           
“His [Salceda] answer was, ‘you will be of better service if you have the heart and the stomach to stay in the government, and I believe you don’t have that’,” Mañalac recalled.
           
After that conversation, Mañalac said he decided to relinquish his post, impliedly telling the audience that he agreed with Salceda.
           
Mañalac did not elaborate what the allegory is for, but he said he had to leave government in his own terms especially after he felt that he was starting to get demonized in the media. “If they want me out, I will leave on my own terms and not [wait for my detractors to] demonize me and say that I am not fit for the job,” Mañalac said.
           
Another major factor for his resignation, Mañalac said, was he felt that the President already wants him out.
           
“I felt deep in my heart that my boss, through actions and pronouncements, was indirectly telling me [that] she no longer trusts me. So as a prudent employee, if you feel your boss feels that way, it’s time to go out so she can choose the replacement,” Mañalac added.
           
He said there were several incidents that made him feel that way, the most telling of which was the issuance of Executive Order 556, which effectively put to waste his efforts to get a farm-out, farm-in partner for the development of the Malampaya oil rig.
           
The PNOC, which before the release of EO 556 had the authority to look for a partner for the Malampaya oil, was already close to formalizing a deal with Mitra Energy Limited and its partners when President Arroyo issued the EO.     

 

web our site

FRONT PAGE

House reso vs. 3G award alarms telcos

Reming crop damage: P376M

Relief work stalls; blame game on

RP businesses have mixed feelings on Asean integration

Integration railroad in 7 Asean pacts

Weak heart, stomach? Don’t join the govt

SECOND FRONT PAGE

Bid to ease reserves rule nixed

Complexity of antiterrorism drive cited 

Missi reliability upgrade seen to reduce complaints

‘With level playing field, RP can draw $8-B FDI’



COPYRIGHT © 2005 Philippine Business Daily Mirror Publishing, Inc.
All rights reserved. Read our privacy guidelines.