MANILA, Philippines – The Social Security System (SSS), the state-owned pension fund for private employees, is ready to invest as much as P50 billion in the government’s Public-Private Partnership (PPP) program for infrastructure, its top official said.
“If there are good opportunities in PPP, we have allocated as much as P50 billion,” SSS president and chief executive officer Emilio de Quiros said.
He said PPP projects would be viable long-term investments.
“What’s good about PPP projects is that these are long-term investments,” De Quiros stressed.
He said SSS has roughly P300 billion worth of investable funds.
Aside from PPP prospects, SSS is also eyeing to pour more funds into the local equities market.
This year, De Quiros said the government is looking at investing more in listed companies belonging to the power sector.
“We’re looking at power. It has a lot of potential in terms of good returns,” he said.
At present, SSS has investments in Philex Mining Corp., Philippine Long Distance Telephone Co. (PLDT), Belle Corp and First Philippine Holdings Corp.
As of end-November 2011, SSS recorded net revenues of P24 billion or 12 percent higher than the year-ago figure.
For its part, the Government Service Insurance System (GSIS) is pouring in roughly $300 million to a planned infrastructure fund, which can go as high $750 million. –Iris C. Gonzales (The Philippine Star)
Invoke Article 33 of the ILO constitution
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