Maharlika Investment Corporation (MIC) president and chief executive officer Rafael Consing Jr. on Saturday has expressed his support to strengthening the country’s energy sector with plan to invest in the National Grid Corporation of the Philippines (NGCP).
In a statement, Consing Jr. said he is endorsing the proposal of Speaker Martin Romualdez for MIC to strategically invest in NGCP.
“The National Grid Corporation of the Philippines (NGCP) is the backbone of our nation’s power system, and its stability is inextricably linked to the Philippines’ economic and social well-being. I fully endorse Speaker Martin Romualdez’s proposal for the Maharlika Investment Corporation to strategically invest in NGCP,” Consing said.
“This move holds immense potential to strengthen our energy sector and pave the way for a brighter future,” he said.
According to Consing, such investment would allow MIC to become a dedicated partner in tackling the Philippines’ complex energy challenges.
He further stressed that MIC “can leverage its unique financial resources and development expertise to accelerate critical infrastructure upgrades, promote renewable energy integration, and improve overall grid efficiency.”
Among tangible benefits that would come out of the partnership include lower energy costs, and a more reliable and resilient grid can empower communities, Consing pointed out.
The investment will also foster public-private partnerships in the energy sector can set a valuable precedent for sustainable development across other critical infrastructure areas.
Consing however acknowledged the decision to invest still requires careful consideration and thorough due diligence before moving forward.
“Transparency and accountability must be paramount throughout the process to ensure efficient use of public funds and maximum benefit for the nation. However, the potential rewards are well worth the exploration,” he said.
“Investing in NGCP through Maharlika is about investing in the Philippines’ future. It will be a bold step towards securing our energy independence, fueling economic prosperity, and ensuring a brighter tomorrow for every Filipino,” he said. PND
