Dismayed by audit reports showing the Social Security System (SSS) and Government Service Insurance System (GSIS) may not have gotten the best deal for their members when they sold their Meralco holdings for only P90 per share, the country’s biggest labor union proposed that the two state pension funds submit their marketable securities to a “Swiss challenge.”
“A Swiss challenge will allow the discovery of other potential investors who may be willing to acquire at higher prices the securities held by SSS or GSIS,” said Trade Union Congress of the Philippines president Ernesto Herrera in a statement.
The TUCP issued the statement in reaction to a Commission on Audit report that questioned the sale by SSS of its 62,990,638 shares in power firm Meralco for P5.66 billion to a newly formed entity with net assets of only P60 million.
The Meralco shares were sold at P90 each to Global 5000 Investment Corp. in December 2008.
Meralco’s stock closed last Friday at P269 per share. Jerome Aning, Philippine Daily Inquirer
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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