The Maharlika Investment Corp. (MIC)’s move to establish an expanded oil storage facility to help protect the country from future oil price surges is a good step but not without concerns, Senate President Pro Tempore Panfilo “Ping” M. Lacson said Thursday.
Lacson noted that while the initiative can help safeguard domestic oil supply, it may not necessarily bring down fuel prices – especially since the MIC is an investment entity designed to generate profit.
“This is one good move to obviate the possible shortage of our domestic supply of oil. However, I cannot help but be apprehensive since the Maharlika Investment Corporation is an investment entity that is designed to earn profit – hence while it may help ensure continuous supply of oil, it may not be able to help bring down the prices of oil products,” he said.
In Filipino: Lacson: Magandang Hakbang ang Expanded Oil Storage Facility ng Maharlika Investment, Pero Hindi Matik na Magpababa ng Presyo ng Langis
MIC president and chief executive officer Rafael Consing Jr. disclosed the plan during a House panel hearing, saying the facility will be developed under a consortium model.
Consing was quoted in reports as saying that state-run Philippine National Oil Company (PNOC) will contribute land or other assets, while the MIC and private investors will shoulder the financial requirements and the private sector will handle operations of the oil storage.
Earlier, Lacson urged the government to go beyond traditional “ayuda” and explore targeted measures to support Filipinos affected by the fuel crisis triggered by the conflict in the Middle East.
He said the government may study approaches used by neighboring economies such as Taiwan, which implements subsidy mechanisms to help cushion fuel price spikes.
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Lacson: Magandang Hakbang ang Expanded Oil Storage Facility ng Maharlika Investment, Pero Hindi Matik na Magpababa ng Presyo ng Langis
Mainam ang hakbang ng Maharlika Investment Corp. (MIC) na magtayo ng pinalawak na oil storage facility upang makatulong na protektahan ang bansa mula sa mga susunod na pagtaas ng presyo ng langis, ngunit may mga alalahanin tungkol dito, ani Senate President Pro Tempore Panfilo “Ping” M. Lacson nitong Huwebes.
Ani Lacson, bagama’t makakatulong ang inisyatiba sa pagtiyak ng sapat na suplay ng langis sa bansa, hindi ito nangangahulugang makabababa rin ng presyo ng langis, lalo na’t ang MIC ay isang investment entity na nakatuon sa pagkita ng kita.
“This is one good move to obviate the possible shortage of our domestic supply of oil. However, I cannot help but be apprehensive since the Maharlika Investment Corporation is an investment entity that is designed to earn profit – hence while it may help ensure continuous supply of oil, it may not be able to help bring down the prices of oil products,” aniya.
Ibinunyag ni MIC president at chief executive officer Rafael Consing Jr. ang plano sa isang pagdinig sa House panel, kung saan sinabi niyang ang pasilidad ay isasagawa sa ilalim ng consortium model.
Ayon sa ulat, binanggit ni Consing na ang Philippine National Oil Company (PNOC) ay mag-aambag ng lupa o iba pang mga asset, habang ang MIC at mga pribadong investor ang sasagot sa mga kinakailangang pondo at ang pribadong sektor naman ang mamamahala sa operasyon ng oil storage.
Nauna rito, hinimok ni Lacson ang pamahalaan na lampasan ang tradisyunal na “ayuda” at tuklasin ang mga targeted na hakbang upang matulungan ang mga Pilipinong apektado ng krisis sa fuel na dulot ng tensyon sa Middle East.
Sinabi niya na maaaring pag-aralan ng pamahalaan ang mga pamamaraang ginagamit ng mga karatig-ekonomiya tulad ng Taiwan, na gumagamit ng subsidy mechanisms upang makatulong na maibsan ang biglaang pagtaas ng presyo ng langis.
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