Winston Garcia’s kin have stake in second largest power utility

Alliance of Concerned Teachers chair Tonchi Tinio has a revelation:

While Winston Garcia has been gaining media mileage by criticizing the lack of transparency in the management of Meralco, he himself is guilty of the same. Worse, he’s deceiving the public by presenting himself as a disinterested party whose only concern is to lower Meralco’s power rates when, in fact, his family has a vested interest in VECO, whose owners could stand to gain if the Meralco franchise is broken up. His populist rhetoric is a mere cover-up for corporate raiding for the benefit of the Arroyo administration’ s allies and cronies.

VECO, or the Visayas Electric Company, is the second largest power utility in the country.

Elsewhere, the GSIS warned government employees group COURAGE against allowing itself to be used by Meralco. Like ACT, COURAGE is critical of the publicized plans of the GSIS and Garcia to use the GSIS stake in Meralco to punish the Lopezes. These two groups are correct in pointing out its position on the misuse of pension funds for devious ends.

ACT and COURAGE have long been active in the campaign for lower power rates. They are members of the People Opposed to Warrantless Electricity Rates (POWER), the group that helped expose the Purchased Power Adjustment and that successfully sued for a refund some years back. It is insane to claim that they are allowing themselves to be used by Meralco.