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Govt may use Malampaya Funds tocushion power price hike NoyPresident Aquino intends to exploit the P1!"#illion Malampaya $pecial Funds to su#sidi%e the expenses on the importation o&

crude oil to #u&&er an impact on increase o& the impendin' power rates o& Meralco in (ecem#er and pu#lic transport &are until

then end o& Fe#ruary )*1+,

Aquino said his aides would have to make a review on the existin' policy surroundin' the Malampaya which is a presidential

decree issued #y then President Ferdinand Marcos,

-.oday/ 0 tasked $ecretaries ericho Petilla 23ner'y4/ 5esar Purusima 2Finance4/ 2$ecretary 6eila de 6ima4 (o/ the 5hie&

Presidential 6e'al 5ounsel 23duardo de Mesa4/ 3xecutive $ecretary 2Paquito 7choa4 and 28ud'et4 $ecretary A#ad to review

how to use possi#ly the Malampaya Funds to cushion

9e added his administration has taken a positive outlook o& takin' e&&orts to shoulder the multimillion"peso expenses that could

a&&ect the ener'y and transport sector on the &irst months o& )*1+,

-$o/ the 'ivin' o& su#sidy could #e possi#le on our pu#lic transports durin' the period o& up to/ i& 0 remem#er correctly/ until

Fe#ruary/ so there would #e no need &or the rate increase/: Aquino said,

Aquino ;usti&ied that in the past/ the national 'overnment had already done su#sidi%in' 'ar'antuan expenses a&&ectin' the oil

price hike, 9e said he wants a &eed#ack &rom his aides #e&ore he would leave &or his apan trip to attend the +*th Asean"apan

summit on (ec, 1) in .okyo/ apan,

- to (ec, 1*/ the ri' would not #e used/ that would demand to use diesel/ while the pipe line has

#een closed,

Palace urged: Tap Malampaya funds to subsidize powerrate hike

MAN06A/ Philippines ? .he Palace can tap the P1*"#ill ion Malampaya &unds to su#sidi%e the estimated P1* #illion inadditional 'eneration costs that are expected to ;ack up to record levels the (ecem#er electricity #ills o& households in MetroManila and nei'h#orin' areas,

.he end"users are expected to shoulder the impact o& the P+,1@ per kilowatt"hour 2k

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-.he Malampaya Fund has 'otten very &at, 0t is time that it is used to ease the #urden o& power consumers/: 7smea said,

7smea has &or years proposed that 'overnment lower the royalty collected on the Malampaya 'as in order to push downpower rates,

-0t is #etter to spend the Malampaya Fund to su#sidi%e power rate hikes rather than lose it to P(AF scams/: 7smea added/re&errin' to reports that hundreds o& millions o& pesos in Malampaya collections were alle'edly diverted to #o'us

non'overnment or'ani%ations/ supposedly with the connivance o& 'overnment o&&icials and lawmakers,

Accordin' to 7smena/ -0& the law esta#lishin' the Fund 2Presidential (ecree No, B1*4 has to #e amended/ we can do that intwo weeks, All the President has to do is to certi&y the #ill &or priori ti%ation,:

Meralco has announced a total increase o& P+,1@Ck