GENERAL SANTOS CITY — Atty. Rogelio “Bic-Bic” Garcia has raised concerns over the disclosure of South Cotabato II Electric Cooperative’s (SOCOTECO II) reported ₱1.8 billion deficit, warning it may be linked to alleged takeover plans by private firms.
Speaking on his RMN GenSan radio program on Monday, March 30, Garcia questioned why the cooperative’s Board of Directors revealed the losses at this time.
“Mao siguro nga gipadayag kining maong lugi, kay para tagaan ang ubang paborito nga mga kompaniyang interesado nga mo take over sa SOCOTECO II,” Garcia said, suggesting the disclosure could benefit favored companies eyeing control of the utility.
Garcia, a former assemblyman and PDP Council of Elders member, cited reports of a joint venture proposal involving Prime Electric, Ignite Power, and Maharlika Holdings, allegedly offering to acquire up to 70 percent of SOCOTECO II’s assets.
“Ngano ma nga kalit lamang ang istorya nga naa kunoy proposal… gi offer sa SOCOTECO nga ilang paliton ang SOCOTECO II up to the extent of 70 percent of its assets,” he added, referring to the consortium reportedly backed by Enrique Razon.
Meanwhile, Meralco has also expressed interest in assisting SOCOTECO II’s rehabilitation.
Garcia urged cooperative officials to ensure transparency and accountability.
“Mga kaigsuonan, kini nga salapi dili basta basta sa usa ka ordinaryong kompaniya. Kinahanglan ipakita ug ipasabot sa katawhan,” he stressed.
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