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
It’s women’s month!
“Support women every day of the year!”
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 #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week
Women’s Week
Week 3: Philippine Industry and Made-in-the-Philippines
Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
Mar 4— Employee Appreciation Day
Mar 15 — World Consumer Rights Day
Mar 18 — Global Recycling Day
Mar 21 — International Day for the Elimination of Racial Discrimination
Mar 23 — International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims
Mar 25 — International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade
Mar 27 — Earth Hour
