This article discusses the baseless accusations against the National Grid Corp. of the Philippines (NGCP) regarding its Chinese ownership and its alleged vulnerability to Chinese control. It also examines the government's controversial Maharlika Investment Fund (MIF) and its pursuit of a stake in NGCP, despite the fund's stated objectives being misaligned with this goal.
Last of two partsAS I noted in the first part of this column on Tuesday, there are three main complaints being aired — again — in the ongoing shakedown of the National Grid Corp. of the Philippines . The first two relate to
is equally ridiculous, but because it is politically sensitive — which is precisely why the politicians who like to entertain themselves and the public by putting does not actually own the national grid; that is owned by the state through the National Transmission Corp. . 's chairman, Zhu Guangchao. This is what apparently gives the Sinophobes among the Philippines' political class nightmares, succinctly summed up by the ordinarily fairly sharp Surigao del Norte Rep. Robert 'Ace' Barbers in an embarrassingly dough-headed question to
does not at all match up to the objectives of the MIF advertised to a skeptical public and legislature when the administration was pushing for its creation,
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