San Miguel Corp.’s president and CEO Ramon Ang lauded President Ferdinand R. Marcos Jr. on Tuesday for his efforts to reinvigorate the country’s energy sector, which he said was a trailblazer from the 1960s to the 1980s.
During the question-and-answer session of the World Economic Forum (WEF) on East Asia in Malacanang Tuesday, Ang told the guests that the Philippines is one of the pioneers in developing geothermal power in the region.
The Philippines built its first geothermal power in 1977, and today its geothermal is producing 2,000 megawatts. The country is also one of the first in Asia to build a nuclear power plant in 1976 and also, operated or discovered the Malampaya natural gas field and solar power early on in the 1980s.
“So, Philippines–by the way also solar–I was talking to my colleague. Solar was first built in the Philippines in 1980. We’re ahead of everybody in Asia. So, Philippines is very, very advanced during the 60s, 70s, and 80s,” Ang told the forum participants.
“And the unfortunate event of military takeover stopped everything and now we are trying to catch up, thanks to our beloved President, thank you po.”
The SMC chief also countered the notion that the Philippines is not competitive because of its high power and fuel prices. Ang explained the rates are high because of the taxes imposed by the government while other Asian countries’ energy sectors are subsidized.
The Philippines, comparing its actual power and fuel cost with other countries, has the lowest in Asia except for the Philippine government’s imposition of excise tax and VAT while all other countries around the region subsidize their fuel and power, he said.
Malaysia, for example, grants subsidies totaling US$20 billion a year, while the Philippines allows the market forces to take charge, Ang pointed out.
President Marcos, for his part, expressed gratitude to Ang for SMC’s participation in infrastructure and energy development in the country, particularly its recent venture to rehabilitate the Manila International Airport. “The SMC has become – we just signed with them. We formed a consortium to improve our airport, which has been adjudged as being one of the worst airports for many years. So, we are about to change that,” said the President, stressing its importance on connectivity and tourism sector.” PND
