FOLLOWING its successful divestment of its remaining shares in the Philippine National Oil Co.-Energy Development Corp. (PNOC-EDC), the government will be putting next in line for sale its interest in Manila Electric Co. (Meralco)—the country’s largest power distributor, Finance Secretary Margarito B. Teves told reporters.

In an interview, the finance chief said that (sale of government’s shares in Meralco) will definitely be done next year.

“It’s already too late,” said Teves, adding that it is already December and that the Power Sector Assets and Liabilities Management Corp. is set to bid out the 25-year concession of the National Transmission Corp.

Teves earlier said the government has yet to decide on which option it will take in selling its shares in Meralco. “It’s still ongoing, but we’re still looking at studies on how the government could sell its shares in Meralco. But that could be done in either third or fourth quarter,” he added.

Teves said the government is eyeing to either offer its shares in Meralco to the public or to strategic investors. “If we sell it to the market, then anybody can buy,” he added.

In terms of strategic investors, according to Teves, there are still a number of strategic investors that the government cannot identify as of the moment.

Teves added that the government still prefers to sell its shares in Meralco in bulk to strategic investors.

Teves said selling in bulk will give the government leverage to command premiums—thus the price or revenues could be higher.

The Government’s Privatization and Management Office also earlier announced plans to sell 12.03 percent of its total shares in Meralco, which is equivalent to 212,120,855 shares.

While the Department of Finance also announced that the government plans to push through with the sale of its Meralco shares this year, it sees revenues from the sale of government assets to reach P25.7 billion this year following successful sale of its indirect stake in Philippine Long Distance Telephone Co.

The sale of the government’s shares in Meralco was stalled after the latter incurred financial setbacks owing to the Supreme Court’s order asking Meralco to refund some P30 billion to its customers.

SUBIC BAY FREE PORT — After becoming known cheap, second-hand imported cars sold at auction yards, Subic may yet earn new popularity for inexpensive yet brand-new automobiles that will be distributed here by a reputable manufacturer.

FOLLOWING its successful divestment of its remaining shares in the Philippine National Oil Co.-Energy Development Corp. (PNOC-EDC), the government will be putting next in line for sale its interest in Manila Electric Co. (Meralco)—the country’s largest power distributor, Finance Secretary Margarito B. Teves told reporters.

TO assist the government in developing Subic-Clark areas as a logistics hub of the Asian regional economy, the Japanese government approved on Monday P7.6 billion (¥19.4 billion) worth of official development assistance (ODA) to the Philippines to fund infrastructure and disaster- mitigation projects.

SEN. Edgardo Angara moved to realign a portion of the proposed P2.571-billion budget of the Department of Trade and Industry (DTI) to shift the department’s priorities toward promoting rural and domestic economy in the country.

THE House of Representatives has approved on second reading a bill providing for the extension of the utilization of the Agricultural Competitiveness Enhancement Fund (Acef).

THIRD World countries, including the Philippines, where the level of acceptance of agricultural biotechnology is reportedly better than its other Asian neighbors, should take advantage of their respective environment conducive for the looming “bioindustrial revolution.”

THE Eco-Waste Coalition and the Global Alliance for Incinerator Alternatives (GAIA) are calling for the adoption of “Zero Waste for Zero Warming” as stakeholders on waste and climate issues gather in Bali, Indonesia, for the United Nations Climate Conference this week.

CAGAYAN DE ORO CITY—Mindanao leaders must not lose sight on the social issues such as poverty and peace and security in the attainment of the island’s sustainable development.