Mindanao growth threatened by power shortage
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Opposition Sen. Chiz Escudero said over the weekend that the growth of Mindanao may be stunted unless investments in the power sector start pouring in.
“Mindanao is where a fourth of the country’s population lives. Unless we take steps to ensure sufficient power on the island by creating a conducive environment for investments, we as a nation will be headed for a crisis,” Escudero said.
He called for the immediate privatization of the government’s power generation and distribution assets in the region and to allow free market forces to determine costs rather than keeping power rates artificially low supposedly to attract industries.
He said investments in Mindanao’s power sector are unlikely if power pricing problems remain unsettled
Despite a recent increase to P2.8177 per kil...