Ramon Ang Says He is Open to Resell Petron to PH Government

Pinoy Businessman Ramon Ang Open to Resell Petron to PH Government?

The Filipino businessman Ramon Ang said that he is open to the possibility of reselling Petron to the Philippine government.

On Monday (November 8, 2021), Petron Corporation presidente and chief executive officer Ramon Ang said that he could resell the gasoline station at any time to the government provided that payment will be done.

Ang made the statement during the briefing of House ways and means committee on monitoring the prices of petroleum products and prosed to suspend or reduce the excise tax for fuel.

Ramon Ang

The congressist told the Philippine government to purchase Petron and he is willing to sell it via installment. He demands payment for the value of the gasoline station and ask for the market valuation for the next five years.

“‘Yung sina-suggest na bilhin ng gobyerno ‘yung Petron, privatization, anytime po. Puwede ko pa ipautang sa Philippine government. Bilhin ninyo ito ng over five years to pay. Ano ho ‘yan, I swear kung gusto ng gobyerno bilhin, handa niyo na, sabihin niyo na, bebenta ko kaagad sa inyo. Pagawaan niyo na ng valuation immediately, walang arte-arte,” Ang said.

He also explained that he doesn’t need to earn profit from the government. Petron Corporation is previously owned by the government.

Ramon Ang

Under House Bill 244, Bayan Muna party-list Representatives Carlos Zarate, Ferdinand Gaite and Eufemia Cullamat proposed the re-nationalization of the Petron Corporation.

The bill author want to ensure the proper fuel prices in the country. The author believes that the privatization, liberalization, and deregulation of oil industry allowed the surge on prices of petroleum products.

Albay Representative Joey Salceda also submitted House Bill 10438 with the aim to cut the excise tax in oil price from December 1, 2021 until June 1, 2022.

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