4 power firms to pay P23.4-B overdue debts to Govt.

4 power firms to pay P23.4-B overdue debts to Govt.

Simply call it Duterte effect.
President Rodrigo Roa Duterte made a promise that he will go after the oligarchs that mede their riches from the fat of the country and from the sweat and blood of Filipinos.

One by one they have been lined up starting from Lucio Tan, Prieto family (owner of Philippine Daily Inquirer and Dunkin Donuts), the onerous water agreement – Ayala Group and Manuel V. Pangilinan (MVP), Consunji of the famous real estate developer DMCI, Ramon Ang of  San Miguel Corporation (SMC).
(photo credit to owner)
One way or another they have experienced dealing with Duterte that whatever hey do, the benefir redounds directly to the citizen of this country.
And now this, as exposed and explained by Anakalusugan Party-list Rep. Mike Defensor just made public 4 power firms made the commitment during a joint House hearing regarding the PHP95.4 billion worth of overdue receivables from electric cooperatives and companies for years.
Defensor, said the private firms that committed to pay the financial obligations were Meralco, PHP15 billion; Northern Renewables Generation Corp., PHP4.6 billion; FDC (Filinvest Development Corp.) Misamis Power Corp., PHP2.6 billion; and FDC Utilities, Inc., PHP1.2 billion.
“We got responsible officials of the four corporations to promise to pay their debt, which they have acknowledged. We will hold them to their commitment,” Defensor said.


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Report from PNA

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