May 21 2007

PSALM targets to privatize 50% of NAPOCOR by December

In line with President Gloria Macapagal-Arroyo's thrust to ensure enough and cheap energy for communities and industries, the Power Sector Assets and Liabilities Management (PSALM) is set to privatize 50 percent of the National Power Corporation's (NAPOCOR) assets within the year.

Cabinet Secretary Ricardo Saludo said the sale of NAPOCOR's assets would "boost business confidence and generate needed investments for future electricity needs of the country."

PSALM is the state agency tasked with selling NAPOCOR's assets.

NAPOCOR operates 28 power plants in the country and with the sale of its assets, the government stands to save some P40 billion annually in financing costs.

The timeline for NAPOCOR's privatization has been laid out as follows: after the winning bidder is identified in December, the board would approve in two to three weeks the winning bidder. The contract would be effective January 2008.

The Masinloc coal-fired power plant in Zambales would be bidded out in July, with the deal expected to be completed in two to three months.

On the other hand, the Calaca coal-fired power plant would be bidded out on the first half of October and closing early next year.

The Palimpinon geothermal plant would be bidded out on the second half of October, followed by the Ambuklao-Binga hydroelectric power plant in November.

"The sale of the Masinloc, Calaca, Palimpinon and Ambuklao-Binga power plants within the year will actually go beyond the 50 percent privatization target," Secretary Saludo said.

He further said that PSALM would issue a Supplemental Bid Bulletin to announce the release of transaction documents for the sale of the Masinloc power plant.

The transaction documents would contain the Asset Purchase Agreement and the Land Lease Agreement for the Masinloc plant, Saludo added.

The President has noted that without competitive power prices, stable energy (supply) would not be competitive.

"Stable energy is an important indication of a Strong Philippine Republic," the President has said.

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Chinese businessmen vow to press ahead with pro-poor social projects

The Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII), the country's biggest organization of businessmen of Chinese heritage, vowed today to pursue its multi-faceted pro-poor social welfare projects in support of government programs.

John Tan, newly-elected FFCCCII president, said that in the "next two years, we will continue with our social welfare projects, including our scholarship programs, medical missions and disaster relief operations."

Tan, who succeeds Francis Chua as FFCCCII head, affirmed his organization's commitment during the oath-taking ceremony of the group's new national officers - all 143 of them - before President Gloria Macapagal-Arroyo this morning in Malacañang.

The new officers were elected during the federation's 26th biennial convention held in Manila last March 30.

Tan told the President that FFCCCII would "give our continued support to you and your vision for the Philippines, the vision for a modern country founded on social justice and enjoying economic prosperity."

Aside from John Tan, the other FFCCCII officers who took their oath before the President were Lucio Tan as FFCCCII's chairman emeritus; and outgoing FFCCCII president Francis Chua, honorary president.

Also elected as honorary presidents during the March 30 FFCCCII convention were Domingo Lee, Yao Eng Hue, Jimmy Tang Vicente Yu, Sr., John Ng, and Robin Sy with Tan Tian Siong as executive vice president.

Alfonso Uy, Alfonso Siy, Henry Lim Bon Liong, Tan Ching, Angel Ngu, and Domingo Yap were elected federation vice presidents, while Lorenzo Cabilangan and William Gosiaco were elected treasurer and auditor, respectively.

In his speech, Tan thanked the President for her graciousness in allowing members of the business organization to take their oath "at the very seat of government."

During the occasion, Tan turned over to the President a check worth P1.25-million for the purchase and construction of an additional 50 Tindahan Natin convenience stores to be set up in various parts of the country.

The new donation to the Tindahan program brings to 175 the number of stores donated by the organization to the Arroyo administration since last year at a total cost of P3.125 million.

The Tindahan Natin chain of convenience stores is a project of the government being implemented by the National Food Authority (NFA) and the Department of Social Welfare and Development (DSWD) to provide easy access by residents of depressed areas to low-cost basic commodities including coffee, rice, sugar, instant noodles and bread.

Aside from the P1.25-million check, the FFCCCII also presented to the President a scale model of the 430 new school buildings, or a total of 860 classrooms, that the organization will donate to the government over the next two years.

The school buildings are part of Operation: Barrio Schools Program launched by the federation way back in 1960. Under the program more than 3,800 schoolhouses have already been constructed all over the country.

Trade and Industry Secretary Peter Favila, who was also present during the Malacañang affair, urged the FFCCCII officers to "call" on the country's new leaders elected in the May 14 midterm election "to sit down and to focus on the economy."

"We have three years remaining in the present administration and we owe it to this generation and future generations to come that we need (to leave them with) a good legacy and a solid Philippine economy," Favila said.

"So regardless of party affiliation, it would help us if they (members of the FFCCCII and the business community) send a message across (to all political leaders) to end the divisiveness" generated by the May 14 balloting," he added.

"Magsama-sama na tayo para sa magandang kinabukasan ng ating bansa."

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PGMA grants scholarship certificates to Sta. Mesa residents

President Gloria Macapagal-Arroyo awarded 100 scholarship certificates to call center agents and welders under the PGMA Training for Work Scholarship Project of the Technical Education and Skills Development Authority (TESDA) during her barangay visit this afternoon in Sta. Mesa, Manila.

Some 1,000 residents led by Barangay 598 Chairman Ricky Oquendo Sr. Manila 6th District Representative Benny Abante, and Metro Manila Development Authority (MMDA) Chairman Bayani Fernando welcomed the Chief Executive upon her arrival for an interaction with barangay official and residents in Damka St., Old Sta. Mesa.

The grant of the 100 training certificates is part of the 100,000 scholarship vouchers under the PGMA Training for Work Scholarship Project.

Scholarhips granted under the training program are for welders, call center agents, slaughtering operation, information and communications technology (ICT), agri-business, health and medical services, medical tourism, and hotel and restaurant services.

In view of the boom in medical tourism, the President assured 42-year-old job applicant Marites Alcaraz that TESDA is also providing trainings on spa massage and massage therapy in preparation for her local employment.

Earlier, the President awarded to Charito Abendano a certificate to operate a Tindahan Natin, which retails basic commodities at low prices for the barangay residents.

During their informal interaction, the President directed barangay and other government officials to look after the community's problems on informal settlers, sidewalk clearing, and dredging of the portion of the San Juan River in preparation for the onset of the rainy season.

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21 MAY 2007		.