{"id":44994,"date":"2015-03-17T15:50:26","date_gmt":"2015-03-17T07:50:26","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=44994"},"modified":"2015-03-17T15:50:26","modified_gmt":"2015-03-17T07:50:26","slug":"sale-of-power-assets-raised-almost-20b","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/03\/17\/sale-of-power-assets-raised-almost-20b\/","title":{"rendered":"Sale of power assets raised almost $20B"},"content":{"rendered":"
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MANILA — The government’s privatization of state-owned power assets through the Power Sector Assets and Liabilities Management Corp. (PSALM) has raised almost $20 billion as of October 2014.<\/p>\n

In the latest status report on the implementation of the\u00a0Electric Power Industry Reform Act (EPIRA) of 2001, PSALM has generated a total proceeds of\u00a0$19.9 billion, of which actual collection amounted to $9.3 billion.<\/p>\n

\u201cThe proceeds were utilized for debt prepayment, regular payment of debts and (IPP) independent power producer obligations, and payment of other privatization-related expenses,\u201d the report said.<\/p>\n

The EPIRA is a power reform law that ordered the privatization of the power sector,\u00a0specifically the power assets of the National Power Corp. (Napocor).<\/p>\n

PSALM is an entity created by the said law and has mandate on the privatization of the assets of Napocor.<\/p>\n

The report also indicated that a total of\u00a0$7.8 billion\u00a0of the $9.1 billion privatization proceeds utilized was used for the liquidation of financial obligations.<\/p>\n

\u201cThe difference between the total amount collected and total utilization in the amount of $1.156 billion is placed in temporary investments while awaiting utilization,\u201d\u00a0the report noted.<\/p>\n

Meanwhile, PSALM is still expecting to raise\u00a0$3.2 billion to $3.4 billion more from the sale of the remaining assets, which are lined up for privatization up to 2017.<\/p>\n

It is also eyeing to sell several power plants with a total capacity of\u00a0 1,600 to 1,700 megawatts .<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA — The government’s privatization of state-owned power assets through the Power Sector Assets and Liabilities Management Corp. (PSALM) has …<\/p>\n","protected":false},"author":44,"featured_media":34133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-44994","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-lei-fontamillas","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/44994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=44994"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/44994\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/34133"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=44994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=44994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=44994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}