Gabriela Party-list Rep. Arlene Brosas (left); President Ferdinand "Bongbong" Marcos Jr. (PPAB, Facebook)

Gabriela Party-list Rep. Arlene Brosas is doubtful that Marcos government's deal with privately-owned transmission company National Grid Corporation of the Philippines (NGCP) can address the fundamental issues plaguing the power sector.

Brosas, and member of the militant Makabayan bloc, was referring to the administration's move of acquiring stakes in the NGCP through the Maharlika Investment Corporation (MIC), which manages the controversial Maharlika Investment Fund (MiF).

The lady lawmaker emphasized that the deal does nothing to address the fundamental issues plaguing the power sector.

"Ang corporate maneuvering na ito ay hindi magpapababa ng singil sa kuryente o magpapahinto ng brownouts. Ang ordinaryong mamamayan pa rin ang magdurusa sa mataas na singil sa kuryente," Brosas said.

(This corporate maneuvering will neither lower the cost of electricity nor halt brownouts. Ordinary citizens will continue to suffer from high electricity costs.)

"Essentially, they're raiding government-owned and controlled corporations (GOCCs) to fund the Maharlika Investment Fund, only to use it in questionable deals that benefit big business interests," she said.

The State's acquisition of a 20 percent stake in NGCP comes at a time when the House of Representatives, through the Committee Legislative Franchises, is seriously looking into the performance of the power grid operator.

House members have assailed NGCP for being in a monopoly, and yet it cannot seem to fulfill its mandate under its existing franchise.

"How will having two board seats solve the rotating brownouts, high electricity rates, and unstable power supply that ordinary Filipino families have to deal with? This is clearly not about improving services but about controlling profitable assets," Brosas stressed.

She also says the deal's timing and structure raise serious concerns about transparency and public interest.

"The Filipino people deserve to know the full details of this transaction that involves their hard-earned money...We demand full transparency and accountability. The House of Representatives must exercise its oversight functions to scrutinize this deal," she said.

The MIF, established at the beginning of President Marcos' term, is the county's first ever sovereign wealth fund.