MANILA, Philippines — On Tuesday, the House Committee on Legislative Franchises adopted a bill renewing…
IBC-13 franchise renewal is approved by a house panel.
The House Committee on Legislative Franchises approved the extension of the Intercontinental Broadcasting Corporation-13 (IBC-13) radio-television network’s franchise on Monday, and the network’s leadership has expressed its appreciation.
Elpidio Barzaga Jr. (Cavite, 4th District) moved, Rep. Franz Pumaren seconded, and the panel, which was presided over by Rep. Gus Tambunting (Paranaque, 2nd District), approved the renewal (Quezon City, 3rd District).
The network will be able to continue carrying out its purpose as a crucial pillar of the government’s communication infrastructure, according to the management, with the help of the IBC-13’s franchise extension.
The IBC-13 has been put up for long-desired privatization, but due to the government-owned network’s exorbitant acquisition price, there are no potential bidders.
Rep. Joey Salceda of Albay, the bill’s primary author and sponsor, stated during the discussion that the franchise renewal will raise IBC-13’s book value and make it more appealing to potential buyers whenever it is ready for privatization.
According to its new vision and goal, IBC-13 wants to create a literate and globally competitive nation for the Filipino people by providing them with relevant programming.
Before the year closes, the plenary is anticipated to approve the franchise renewal.
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