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Semicon group in PH supports Meralco franchise renewal; highlights reliability and stability of supply

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Cognizant of the need for a reliable, stable, tried and tested source of power to ensure uninterrupted business, the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) joined other like-minded business groups in the country and endorsed the franchise renewal of Meralco.

In a letter dated June 4, SEIPI President Dan Lachica asked House of Representatives Chairman of Committee on Legislative Franchises Gustavo Tambunting to “favorably consider” SEIPI’s position in the ongoing deliberations of Meralco’s legislative franchise.

“Amidst the country’s ongoing economic progress, we extend our full support for Meralco’s franchise renewal as they contributed significantly to the industry’s status as the country’s leading exporter. This will give confidence to foreign investors, as it will signal stability in our economic landscape,” Lachica said.

He acknowledged Meralco as a “collaborative partner” to SEIPI and its member companies.

“The utility had been providing excellent service and constantly investing in capital expenditure projects in economic zone locations and industrial parks to meet the robust power quality that is needed by our industry to be globally competitive,” Lachica added.

SEIPI is a leading organization of multinational and Filipino-owned semiconductor and electronics companies in the Philippines with over 360 members including manufacturing firms, allied and support industries, and the academe.

SEIPI as an umbrella organization has stated in the past that its members heavilly rely on power quality, stability of supply vis-a-vis demand, sound policy advocacies which Meralco as the premiere distribution utility in the country can provide.

Besides SEIPI, other influential business groups that backed Meralco’s continued operation and formally manifested support to its franchise renewal are the Management Association of the Philippines, Makati Business Club and Private Electric Power Operators Association.

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