Milking cow

FOR someone who has worked for more than 20 years at National Steel Corp. (NSC), this story is one of a few if not, many about government-owned and -controlled corporations (GOCCs) manipulated by our leaders in their sale and transfer of ownership. The moneyed ones are making more money and government officials, from the top to cabinet level are getting fat commissions.

When Manila Hotel was sold to a Malaysian group, it was contested and the case went to the Supreme Court. SC ruled in favor of the one opposing the sale. To appease the Malaysian group, the NSC was instead given to them, probably for a song.
Not knowing how to manage a steel factory, the Malaysian group sold whatever inventory the NSC had just to recover a portion of the investment lost in the purchase of the Manila Hotel. Later on, the Malaysian group sold the same to Global Steel India (Tata Car group) at 10 percent down payment with the balance payable in 10 years. Like the Malaysian group, the new owner has no knowledge in running this business. Their main purpose is to sell the same to another and they have plenty of time to do that. Unfortunately, after 10 years, there was no taker. Then it closed, leaving thousands jobless.

It was bad for Iligan City and the other factories who cater to NSC. But it was somehow a blessing in disguise to some NSC workers, especially the technical people. They gained employment abroad and are getting good pay for their experience. NSC was a landmark in this part of the country. It has a twin. National Power Corp. was once also a big name. But like the NSC, it also suffered abuses perpetuated by our leaders and insiders. It may look very complicated but in the power industry, a lot of greedy people made millions and billions from the transfer of ownership. And who suffers? The consumers.

GOCCs have been known as milking cows of our leaders. From one administration to another, it’s the same story. And nobody gets punished or goes to prison. They are not people without faces or names. Nobody just wants to talk about it for fear or for money. We admire people for their huge investments in this and that, not knowing that these are the very same people who made billions by conniving with government officials to make more money. The racket will continue for as long as we, the people just sit by and watch and do nothing. I am reminded of that article by Mr. Tony Lopez that Congress is the biggest syndicate in the country. Please include the presidency.
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It may be an exaggeration but the moment Davao Mayor Rodrigo Duterte announces his candidacy for President, his rating will shoot up, and someone from Canada might just fly in during the campaign period to cover his trail. Two persons fascinated her. One is Rep. Rufus Rodriguez whom she had the occasion to meet at his home for a brief chat/interview to talk about Mindanao. The other is Duterte whom she missed when she visited Davao. The mayor then was too busy that she failed to get an appointment. But what she heard from ordinary Davao folks fascinated her.

But while in Manila, she wrote a few articles, one of which was about the two and about Mindanao in a Chinese newspaper where she used to work for decades. Before she went back home to Canada, she told me that if Duterte decides to run, she will come back. She is my sister Lydia Tiu Velasco who once belonged to the Malacañang Press Corps during the Cory administration. My bold prediction is, Duterte would be our next President!