Arroyos’ tenants seek help. Farmers from Hacienda Bacan in Negros
Occidental, which is owned by the family of presidential
husband Mike Arroyo, serenade members of the Catholic Bishops
Conference to dramatize their call for the distribution of the
157-hectare farm under the Comprehensive Land Reform Law.
***
Lopez to GSIS: Buy
us out in Meralco Garcia: Call, let's talk terms
BY JOB REALUBIT
OSCAR Lopez, president of First Philippine
Holdings Corp., yesterday said if GSIS president and general
manager Winston Garcia is willing to buy out his family's share
in the Manila Electric Co. (Meralco), he would "be more than
willing" to sell it.
First Philippine Holdings, one of the holding
companies of the Lopez family, has a 33.4 percent stake in
Meralco. GSIS owns 33 percent. The rest of the shares are owned
by public investors.
"If he (Garcia) wants, he can buy us out,"
Lopez said at the sidelines of the RP-European Union Business
Conference.
SEN. Manuel Roxas II yesterday said
Malacañang should disclose its plans on its option to buy back
the 40 percent stake of Saudi Aramco in Petron. The right of
refusal will expire on Monday.
He said government, as represented by the
Department of Energy and the Philippine National Oil Co., must
consider the heightened uncertainty in the supply and price of
oil.
Aramco is selling its 40 percent stake in
Petron to the Ashmore Group for $550 million. PNOC owns 40
percent of Petron and the rest is held by small investors.
PRESIDENT Arroyo yesterday went to the
Department of Justice offices for the second time this week, to
prod prosecutors to file criminal cases against officials of the
National Food Authority said to have diverted cheap NFA rice to
the commercial market.
Justice Secretary Raul Gonzalez said
government will now focus more on the diversion aspect.
NBI director Nestor Mantaring said the number
one priority is now on diversion because hoarders will just sell
their stash if authorities put the squeeze on them. "Pag lean
months, wala na tayong bigas," he said.
