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House panel approves PSALM extension beyond 2026

MANILA - The House Committee on Energy on Wednesday approved the measure extending the corporate life of Power Sector Assets and Liabilities Management (PSALM) Corporation for another 30 years. The panel, chaired by Pampanga Rep. Juan Miguel Arroyo, approved the committee report and substitute bill to House Bill 10006. Albay Rep. Joey Salceda, one of the authors of the bill, said it will help the government avoid having to shoulder around an estimated PHP198 billion worth of PSALM liabilities by 2026, when the corporation is set to expire under its original charter. "We were supposed to have exhausted all of PSALM's debts by 2026, if it were not for the Covid-19 pandemic. The privatization of certain assets was delayed due to this crisis," Salceda said. Republic Act 9136, otherwise known as the Electric Power Industry Reform Act (EPIRA), was enacted in 2001 to ensure the solvency of then severely financially troubled National Power Corporation (NPC). PSALM, which was esta ....

Davao City , Juan Miguel Arroyo , Joey Salceda , House Committee On Energy , World Bank , National Power Corporation , House Committee , Power Sector Assets , Liabilities Management , House Bill , Electric Power Industry Reform Act , Independent Power Producer , Quezon City , Bonifacio Global City , Manila The House Committee On Energy Wednesday Approved Measure Extending Corporate Life Of Power Sector Assets And Liabilities Management Psalm Corporation For Another 30 Years Panel , Haired By Pampanga Rep Juan Miguel Arroyo , Pproved The Committee Report And Substitute Bill To House 10006 Albay Rep Joey Salceda , Ne Of The Authors Bill , Aid It Will Help The Government Avoid Having To Shoulder Around An Estimated Php198 Billion Worth Of Psalm Liabilities By 2026 , Hen The Corporation Is Set To Expire Under Its Original Charter Quot We Were Supposed Have Exhausted All Of Psalm 39s Debts By 2026 , F It Were Not For The Covid 19 Pandemic Privatization Of Certain Assets Was Delayed Due To This Crisis , Uot Salceda Said Republic Act 9136 , Therwise Known As The Electric Power Industry Reform Act Epira , As Enacted In 2001 To Ensure The Solvency Of Then Severely Financially Troubled National Power Corporation Npc Psalm , Hich Was Established Through The Epira , As The Principal Mandate Of Managing Orderly Sale ,

Solon wants PSALM extended beyond 2026 to avoid fiscal woes

House of Representatives (File photo) MANILA - The chair of the House Committee on Energy on Friday pushed for the extension of the corporate life of the Power Sector Assets and Liabilities Management Corporation (PSALM) to avoid "serious fiscal consequences" for the government. Pampanga (2nd District) Representative Juan Miguel Arroyo said the government may have to shoulder PHP198 billion in debts from PSALM's liabilities unless its corporate life, which is expiring on June 26, 2026, is renewed. House Bill 10006 proposes to extend the government corporation's charter for another 50 years, or until June 26, 2076. "The government must not wait until the next administration to extend PSALM's corporate life," he said in a statement. Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act (EPIRA), was enacted in 2001 to ensure the solvency of then severely financially troubled National Power Corporation (NPC). PSALM, which was estab ....

Davao City , Fort Bonifacio , San Pedro Makati , Juan Miguel Arroyo , Joey Salceda , Means Committee , House Committee On Energy , National Power Corporation , Liabilities Management Corporation , House Committee , Power Sector Assets , Representative Juan Miguel Arroyo , Electric Power Industry Reform Act , Independent Power Producer , Representative Joey Salceda , Quezon City , Fort Bonifacio Global , House Of Representatives File Photo Manila The Chair Committee On Energy Friday Pushed For Extension Corporate Life Power Sector Assets And Liabilities Management Corporation Psalm To Avoid Quot Serious Fiscal Consequences Government Pampanga 2nd District Representative Juan Miguel Arroyo Said May Have Shoulder Php198 Billion In Debts From 39s Unless Its , Hich Is Expiring On June 26 , S Renewed House Bill 10006 Proposes To Extend The Government Corporation 39s Charter For Another 50 Years , R Until June 26 , 076 Quot The Government Must Not Wait Until Next Administration To Extend Psalm 39s Corporate Life , Uot He Said Ina Statement Republic Act No 9136 , Therwise Known As The Electric Power Industry Reform Act Epira , As Enacted In 2001 To Ensure The Solvency Of Then Severely Financially Troubled National Power Corporation Npc Psalm , Hich Was Established Through The Epira ,