THE government could sell its stake in the Subic-Clark-Tarlac Expressway to state-owned pension funds instead of a private firm.'Maybe the SSS and Government Service Insurance System can buy them,' Finance Secretary Ralph Recto told reporters on Tuesday.'The government has a few shares, and I think it's better off that we sell those shares to raise revenue, non-tax revenue, and better if the pension funds buy from us,' he added. Finance Secretary Ralph Recto.
'Last week, Bases Conversion and Development Authority President Joshua Bingcang said that it could sell its 50-percent stake in the SCTEx to Pangilinan-led Metro Pacific Tollways Corp. , which holds the concession to operate the tollway.Finance Undersecretary Catherine Fong, however, said the government wanted the SSS and the GSIS to have first crack at the stake.
SSS GSIS Can Buy Sctex Stake
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DOF mulls selling gov't stake in SCTEX to SSS, GSISFinance Secretary Ralph Recto has raised the possibility of the Social Security System (SSS) and Government Service Insurance System (GSIS) buying out the government's stake in the Subic-Clark-Tarlac Expressway (SCTEX) to boost the pension funds’ investment portfolio.
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BCDA discloses plan to sell SCTEX stake to Metro PacificDefining the News
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