Photo Release

Franchise ownership: Sen. Richard Gordon seeks clarification on a bill which seeks to expand the franchise area of More Electric and Power Corporation in Iloilo City during a hybrid plenary session Monday, May 23, 2022. Gordon asked Sen. Grace Poe, sponsor of House Bill No. 10306, if shares of the franchise could be sold or reduced. Poe replied in the affirmative. “If the corporation remains as originally approved, there is no problem so long as the shareholders would remain within the nationality requirement (or 60 percent ownership),” Gordon said. (Screen grab/Senate PRIB)