Philippines pressures Manila Electric to lower rates
MANILA: A struggle for control has broken out at the largest power utility in the Philippines after the government put pressure on it to cut rates, and analysts say the dispute could affect privatization of the power sector. The state pension fund, Government Service Insurance System, or GSIS, has called for a management revamp at Manila Electric, or Meralco, in a bid to drive down rates. "I believe we can only bring down rates if we change management and put in somebody who can initiate reforms," said Winston Garcia, president of GSIS.