Semirara stocks took a nosedive losing as much as P30 billion in market value, after news that govt is no longer renewing its contract to mine Semirara which it has done for the last 50 years. Thats what the mining laws say and DOJ affirmed it. DOE under Garin says the mine is up for bid
Well coal is still impt for PHL power gen. (Despite the move towards clean energy)
Thats the power of the govt. It can kill your business. Thats not he problem with Razon, Aboitiz who know how to to play their business games. (That the bitter pill for the young billionaire Leviste)
Its better to do business where the govt power over your business is minimal (But there isnt any) In the recent case, we have to cough out P100/sm for an LGU ordinance
No comments:
Post a Comment