28 July 2011
– The Freedom from Debt Coalition (FDC) today welcomed the move of House Deputy Speaker Lorenzo “Erin” R. Tañada III, asking “Congress and the executive department to convene an inter-agency, inter-branch, and multi-stakeholder process to discuss and decide whether consumers can afford a full pass-on of the PSALM debts and losses, and to look for other approaches in retiring the obligations of PSALM.”
PSALM, or the Power Sector Assets and Liabilities Management Corp., is the government body mandated by Republic Act No. 9136 or the Electric Power Industry Reform Act (EPIRA) to manage the privatization of the state’s power assets and handle the liabilities of the National Power Corporation (Napocor).
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