Govt to absorb Napocor debts

i guess the time for this would come sooner or later, i just wondered why i didn't come sooner rather than later, especially during a period when things aren't going well for the country.

i think the gov't should abolish the napocor and establish a new power company in its place, similar to the replacement of the old central bank with the bangko sentral, i.e., begin with a clean slate.

i however oppose having it privatized, who knows how high we'll find the power rates here in the philippines, rates that are among the highest in asia.