PSALM welcomes the issuance of EO No. 157
The Power Sector Assets and Liabilities Management Corporation (PSALM) is grateful to President Rodrigo Roa Duterte and the Department of Finance (DOF) for the issuance of Executive Order (EO) No. 157. The said EO No. 157 authorizes the reduction of the 2021 real property tax (RPT) due on property, machinery and equipment used for production of electricity by independent power producers (IPPs) covered by build-operate-transfer contracts (BOTs) with government-owned or controlled corporations (GOCCs)....
DOF instructs PSALM to stop incurring liabilities from ailing electric cooperatives
The Department of Finance (DOF) has instructed the Power Sector Assets and Liabilities Management Corporation (PSALM) to stop providing ailing electric cooperatives with power supply that they cannot pay for. Secretary Carlos Dominguez III said that PSALM should not incur more liabilities arising from non-paying electric cooperatives. He stressed that PSALM’s mandate does not include subsidizing the energy requirements of ailing electric cooperatives....
PSALM invites bidders for the bidding of Mexico, Pampanga property
The Power Sector Assets and Liabilities Management Corporation (PSALM) is inviting interested parties to the new round of public bidding for the sale of a large real estate property in Brgy. Lagundi, Mexico, Pampanga. The subject property, which spans 50,447 square meters, more or less, has a Minimum Bid Price of PHP741,327,000.00. The deadline for the submission of bids for the property is on 20 January 2022, 2:00 PM which will be followed immediately by the opening of the submitted bids. ...
PSALM declares a successful public bidding for its Limay, Bataan Asset
On 09 November 2021, the Power Sector Assets and Liabilities Management Corporation (PSALM) declared a successful public bidding for its Limay Asset. The highest bid price received by PSALM was from Panasia Energy Inc. (Panasia) amounting to PHP1,023,159,332.00. ...
PSALM and BIR enter into a mutually advantageous global settlement of tax issue
The Power Sector Assets and Liabilities Management Corporation (PSALM) and the Bureau of Internal Revenue (BIR) entered into a mutually advantageous global settlement of all the pending tax issues between them, consistent with the whole-of-government approach promoted by President Rodrigo R. Duterte. ...