- About PSALM
- Corporate Philosophy
- List of Officials
- Board of Directors
- PSALM Management Team
- Approved Budget and Targets
- Modifications made pursuant to the general and special provisions in the FY 2018 GAA (Not Applicable)
- Procurement Documents
- Annual Procurement Plan (Non - CSE)
2022 I 2021 I 2020 I 2019 I 2018 I 2017 I 2016
- Indicative Annual Procurement Plan (Non - CSE)
2022 I 2021 I 2020 I 2019 (N/A)
- APP - Common-Use Supplies and Equipment (APP-CSE)
2022 I 2021 I 2020 I 2019
- Procurement Monitoring Report
2021 I 2020 I 2019 I 2018 I 2017 I 2016
- Annual Procurement Plan (Non - CSE)
- Major Projects, Programs and Activities, Beneficiaries, and Status of Implementation
- Annual Financial Reports
- Financial Statements
- Trial Balance
- Annual Reports on the status of Income Authorized by Law to be Deposited Outside the National Treasury (N/A)
- QMS ISO Certification
- System of Ranking Delivery Units and Individuals
2021 I 2020 I 2019 I 2018 I 2017
- Agency Review and Compliance Procedure of Statements and Financial Disclosures
- Freedom of Information
National Budget Circular 542, issued by the Department of Budget and Management on August 29, 2012, reiterates compliance with Section 93 of the General Appropriations Act of FY2012. Section 93 is the Transparency Seal provision, to wit:
Sec. 93. Transparency Seal.
To enhance transparency and enforce accountability, all national government agencies shall maintain a transparency seal on their official websites. The transparency seal shall contain the following information:
- the agency's mandates and functions, names of its officials with their position and designation, and contact information;
- annual reports, as required under National Budget Circular Nos. 507 and 507-A dated January 31, 2007 and June 12, 2007, respectively, for the last three (3) years;
- their respective approved budgets and corresponding targets immediately upon approval of this Act;
- major programs and projects categorized in accordance with the five key results areas under E.O. No. 43, s. 2011;
- the program/projects beneficiaries as identified in the applicable special provisions;
- status of implementation and program/project evaluation and/or assessment reports; and
- annual procurement plan, contracts awarded and the name of contractors/suppliers/consultants.
The respective heads of the agencies shall be responsible for ensuring compliance with this section.
A Transparency Seal, prominently displayed on the main page of the website of a particular government agency, is a certificate that it has complied with the requirements of Section 93. This Seal links to a page within the agency's website which contains an index of downloadable items of each of the above-mentioned documents.
A pearl buried inside a tightly-shut shell is practically worthless. Government information is a pearl, meant to be shared with the public in order to maximize its inherent value.
The Transparency Seal, depicted by a pearl shining out of an open shell, is a symbol of a policy shift towards openness in access to government information. On the one hand, it hopes to inspire Filipinos in the civil service to be more open to citizen engagement; on the other, to invite the Filipino citizenry to exercise their right to participate in governance.
This initiative is envisioned as a step in the right direction towards solidifying the position of the Philippines as the Pearl of the Orient -- a shining example for democratic virtue in the region.
"A debt-free PSALM towards a competitive electric power industry through strategic asset privatization and financial management."
- Ensure the orderly privatization of PSALM's power and other disposable assets
- Optimally liquidate PSALM's financial obligations
- Efficiently administer the Universal Charge
The principal purpose of PSALM is to manage the orderly sale, disposition, and privatization of NPC generation assets, real estate and other disposable assets, and IPP contracts with the objective of liquidating all NPC financial obligations and stranded contract costs in an optimal manner.
Finance Secretary Carlos “Sonny” Dominguez has over 40 years of experience managing various organizations in the public and private sectors. He was a shareholder, and board chairman or member of over a dozen corporations across various industries such as power, agriculture, mining, banking, hospitality, real estate, and investment.
A flexible civil servant, Sec. Sonny served as the Cabinet Secretary of the Environment and Natural Resources and Agriculture during the Presidency of Corazon Aquino. He also occupied a range of senior roles in the private sector and was the president of leading Philippine corporations such as the Philippine Airlines and the Philippine Associate Smelting and Refining Corporation, and the former Bank of the Philippine Islands Agricultural Bank.
Sec. Sonny has a Master’s Degree in Business Administration from Ateneo De Manila University and attended the Executive Management Program at Stanford University.
Energy Secretary Alfonso G. Cusi has more than four decades of leadership experience in both the private and public sectors. As a leader in the Philippine business sector, Cusi was engaged in the logistics and transportation industries where he founded and served as Chairman and President of various distribution, crewing, maritime engineering companies as well as convenience stores.
When he was Chairman of Starlite Ferries, Inc., he led the Batangas-based shipping on its modernization program with its acquisition of brand-new roll-on, roll-off (ro-ro) commercial vessels custom-built in Japan.
Recognized as a good corporate steward, he also served as Board Member of the mining firm Intex Resources Philippines, Inc., a subsidiary of the Norway-based Intex Resources ASA.
Sec. Cusi started his career in government service during the Arroyo administration, serving as General Manager of the Philippine Ports Authority (PPA) from February 2001 to July 2004. He was instrumental in the launch of the h2 Republic Nautical Highway that linked Luzon, Mindoro, Panay and Zamboanga del Norte in the country's western seaboard.
As General Manager of the Manila International Airport Authority (MIAA) from August 2004 to March 2010, he initiated the opening of the mothballed NAIA Terminal 3 in 2008.
Appointed as Director-General of the Civil Aviation Authority of the Philippines from March to December 2010, Sec. Cusi laid the groundwork for the restoration of the Category 1 status of the Philippine aviation industry.
Sec. Cusi hails from Roxas town in Oriental Mindoro and from Cebu City. He earned his Bachelor of Science degree in 1972 from La Salle College in Bacolod, his Master of Business Administration (MBA) degree in 1976 from the University of the Philippines-Cebu, and his Doctorate in Business, honoris causa, in 2008 from the Polytechnic University of the Philippines.
He was the Vice-Chairman of PDP-Laban prior to his appointment as member of the Cabinet of President Rodrigo Duterte.
Tina Rose Marie L. Canda is the Officer-in-Charge (OIC) of the Department of Budget and Management (DBM). She was designated as OIC after the DBM Secretary went on medical leave. She handles budget preparation and budget execution activities, analyzes the accountability reports to assess agency performance, initiates the crafting of various budgetary issuances proposed for issuance or revision.
Ms. Canda obtained her B.A. Economics, cum laude, from the University of Santo Tomas and Master in Management from the Philippine Christian University. She spent her entire career with the DBM starting as a Budget Analyst in 1982. She handled foreign assisted projects and departments belonging to the Agriculture, Industry and Tourism sectors. She became director of the Budget Technical Service, a unit tasked with policy, standard setting and providing budgeting, accountability procedures for the national government agencies. She was also assigned as BMB-D Director of the Operations Group. As such, she handled agencies belonging to the justice, national security, and public safety agencies such as the DILG, DOJ, DND, the Judiciary, Ombudsman, House of Representatives, Senate of the Philippines, and ARMM.
On many occasions, she represented the DBM as speaker on budgeting policies and procedures especially where it applies to the budget preparation, execution, and accountability phases of the budget cycle.
Prior to his appointment, Justice Secretary Menardo Guevarra served as the Senior Deputy Executive Secretary of President Rodrigo Duterte. He first joined government service as staff economist at the National Economic and Development Authority and the Bangko Sentral ng Pilipinas.
Secretary Guevarra took up graduate studies in Economics at the University of the Philippines, after obtaining his A.B. degree, Major in Political Science, from Ateneo de Manila University in 1974. He graduated from Ateneo Law School and placed second in the 1985 Bar examinations.
As a lawyer, he worked with the technical staff of the 1986 Constitutional Commission. In 1990, Secretary Guevarra set up his own law partnership and was in active private law practice until April 2015. He was also a faculty member of the Ateneo School of Law.
Given his expertise in the various fields of law, Secretary Guevarra went back to government as Member of the 2010 Philippine Truth Commission, Deputy Executive Secretary for Legal Affairs at the Office of the President in May 2015, and Commissioner of the Philippine Competition Commission in February 2016.
Trade and Industry Secretary Ramon M. Lopez launched his career in the field of economics, trade and industry development back in 1981 when he joined as member of the Presidential Management Staff. Retaining the flexibility to serve in the government, this was followed by his stint in the Department of Trade and Industry from 1982 to 1989. In the same year, he transferred to NEDA and served the economic planning arm of the government holding a key position until 1993.
His acumen in trade and industry development planning brought him to the forefront of the Tariff Reform Program. He also set up various ASEAN and APEC cooperation programs, technical studies on countervailing duty cases, critical consumer products’ price structures and the development of the Foreign Investment Act.
These stints in consultancy and program development were followed by a thriving career in the business sector from 1994 to 2016, adding more than 22 years in his business leadership portfolio. He held the position of top executive of RFM Corporation where he led core operations such as strategic planning and business development, marketing, mergers and acquisitions and equity investment.
Concurrent with his DTI appointment, he is the Executive Director of the advocacy group Go Negosyo. For the past 11 years (October 2005- June 2016), he has been initiating and implementing all its programs aimed at empowering the youth and aspiring entrepreneurs, small-scale entrepreneurs, and underprivileged sectors such as the PWDs and out-of-school youths. For the past three years, he has been co-hosting the weekly Go Negosyo radio program and on the side, giving lectures and mentoring thousands of aspiring entrepreneurs through Go Negosyo’s seminars, workshops, summits, books and social media presence.
With his extensive experience in various government agencies, private sector and non-government organizations, Sec. Lopez has gained the admiration and respect of the business, financial and investor communities in the Philippines and abroad.
Sec. Lopez earned his Master in Development Economics (MDE) at Williams College in Massachusetts, USA in 1988 and his AB in Economics at the University of the Philippines Diliman in 1981.
Atty. Irene Joy Besido-Garcia is a luminary in corporate law with vast exposure in complex commercial cases, securities transactions, due diligence examinations, franchising, joint ventures and special corporate projects. In the area of litigation, she has extensive experience in handling family law cases, estate disputes, probate cases, election contests, labor issues, taxation matters and civil cases. She served as a member of the Board of Directors of the International Lawyers Network, an association of legal experts with presence in 66 countries.
Prior to her appointment in PSALM as its seventh chief executive, Atty. Garcia worked in a full-service law firm for more than 19 years with her legal expertise ranging from litigation to corporate law. She was a Senior Partner at the Kapunan Garcia and Castillo Law Offices from years 2006 to 2017 and served as the Managing Partner from years 2011 to 2014, taking charge of administrative and operational concerns of the firm.
Atty. Garcia assumed the dual office of Director and President and Chief Executive Officer of the Power Sector Assets and Liabilities Management Corporation (PSALM) upon the signing by President Rodrigo R. Duterte of her appointment paper and subsequent Special Board Meeting of the PSALM Board of Directors on 25 May 2018.
Atty. Garcia obtained both her BA Communication Research, cum laude (1994) and Bachelor of Laws (1998) from the University of the Philippines, Diliman. She passed the 1998 Bar exams.
IRENE JOY BESIDO-GARCIA
- President and Chief Executive Officer
- Phone: (02) 902-9001
- Fax: (02) 739-52-79
- Email: email@example.com
Before her new appointment as the seventh chief executive in PSALM, Atty. Garcia has worked in a full-service law firm for more than 19 years with her legal expertise ranging from litigation to corporate law.
She was the Senior Partner of the Kapunan Garcia and Castillo Law Offices from years 2014 to 2017 and Managing Partner from years 2011 to 2014 in the same firm. In this capacity, she took charge of administrative, financial and operational concerns of the firm.
Atty. Garcia is a luminary in corporate law with numerous complex commercial cases, securities transactions, due diligence examinations, franchising, joint ventures and special corporate projects marking her illustrious legal career.
Among the many companies she represented in different capacities include the Philippine Communication Satellite Corporation, Philippine Overseas Telecommunications Corporation and ZOE Broadcasting Network. In the field of litigation, she has been handling estate cases, probate cases, election contests and civil cases up to this day.
Atty. Irene Joy Besido Garcia obtained both her BA Communication Research, cum laude (1994) and Bachelor of Laws (1998) from the University of the Philippines Diliman. She passed the bar in 1998.
ARNOLD C. FRANCISCO
- Vice President, Privatization and Asset Management Group
- Email: firstname.lastname@example.org
Mr. Arnold C. Francisco has an extensive career in the electric power industry. He worked in the National Power Corporation (NPC) since 1989 until he became Principal Engineer several years later.
For 11 years, he assumed multiple roles related to NPC’s contract negotiation and administration on natural gas pipeline facilities, project management, treasury management and loan sourcing. Mr. Francisco also designed and recommended financial strategies to minimize forex risks and improve cash flow for NPC.
He transferred to PSALM in 2003, a time when the restructuring program for the power industry took off. As time would tell, his career grew well in the Corporation. In 2004, he became the Manager of the Electricity Trading Department (ETD). After serving the unit for six years, he was transferred to the IPP/IPPA Contracts Administration Department (IPP/IPPA CAD) as Corporate Staff Officer in 2010 until 2012. He ascended to the position of Manager in the same department two years later. In 2016, he was appointed as Vice-President for the Asset Management Group (AMG).
Mr. Francisco’s expertise has contributed largely to the achievement of PSALM’s twin mandate of asset privatization and liability management. His wide-ranging experience in financial management, contract implementation, privatization schemes and framework, and electricity trading has resulted in the attainment of the corporation’s objectives.
A licensed Civil Engineer, Mr. Francisco finished his bachelor’s degree at Baliuag University and his master’s degree in Business Administration from the same institution.
MANUEL MARCOS M. VILLALON II
- Vice President, Finance
- Email: email@example.com
Mr. Manuel Marcos M. Villalon II joined PSALM in 2004 as a consultant to the PSALM Finance Group and became the manager of the Loans Administration Division the following year. Prior to his appointment as Acting Vice President for Finance, he was the manager of the Treasury Department and acting manager of the Liability Management Department. In his first few years in PSALM, he was heavily involved in the PHP 200 billion debt absorption by the national government, valuation of power plants up which were up for sale and obtaining creditors’ consent – especially from the World Bank, Asian Development Bank and Japan Bank for International Cooperation – for the privatization of the National Power Corporation’s generation and transmission assets. His stint in PSALM also includes contracts management, policy research, power accounts management, WESM billing and settlement, and procurement.
Prior to joining the government service, he worked in the non-government sector promoting youth development and managing social projects benefitting the underprivileged focusing on health, nutrition, agricultural and technical education with the assistance of local and foreign volunteers. His stint in the NGO sector involved project/program development and management, fund raising, budgeting, cash management, and maintaining good relations with local and foreign donors. His other work experiences include journalism, advertising, marketing, investment promotion, and business-economic research.
Mr. Villalon has passed the Certified Treasury Professional examination of the Bankers Association of the Philippines’ Treasury Certification Program. He obtained his Economics degree from the Ateneo de Manila University and Master in Public Administration, major in Public Policy and Program Administration, from the University of the Philippines - National College of Public Administration and Governance. He is also a Career Executive Service eligible. He volunteers his free time in giving Math tutorials to public elementary school pupils.
ATTY. MARIA BELEN P. MONTES – NERA
- Vice President, Legal and General Counsel
- Email: firstname.lastname@example.org
Atty. Maria Belen P. Montes – Nera is the Vice President for Legal Group and General Counsel. Prior to her promotion, she was the Corporate Secretary from 20 October 2017 until 23 March 2022.
She has had a long and extensive legal career both in the public and private sector, beginning with her stint at the Office of Associate Justice Flerida Ruth P. Romero of the Supreme Court in 1991. After three (3) years, she joined then Bautista Picazo Buyco Tan and Fider Law Offices. She went back to government service at the Office of the Solicitor General (OSG) in 1995, where she stayed for almost seven (7) years.
She joined PSALM in September 2002 and was among the pioneer employees. She resigned in 2005 and rejoined PSALM as Consultant in 2009-2010. She continued to be involved in the energy sector as Manager of the Legal Department of the FDC Utilities, Inc. and later as a Consultant for Sinag Energy Philippines, Inc. She was also a Consultant, and later, Political Affairs Officer III in the Office of Representative Wilfredo S. Caminero of the Second District of Cebu, a member of the House of Representatives (HOR) Committee on Energy, before returning to PSALM.
Atty. Montes-Nera earned her Political Science degree, graduating summa cum laude from Saint Louis University, and her Bachelor of Laws from the University of the Philippines, with a Dean’s Medal for Academic Excellence.
GLENN B. SANTOS
- Vice President, Corporate Services Group
- Email: email@example.com
Mr. Glenn B. Santos joined PSALM Corporation in August 2020, in the middle of the COVID-19 pandemic, as Department Manager of the Human Resources and Administration Services Department. He had since then been appointed as Acting Vice President of the Corporate Services Group.
As Acting Vice President, he exercises direct supervision and control over all matters related to human resources, administrative services and information and communications technologies. He is the Chairperson of the Single Bids and Awards Committee (SBAC), Career Development Committee (CDC) and Review and Compliance Committee (RCC), and he is also heavily involved in the Occupational Safety and Health Committee (OSHC), Employee-Management Committee (EMC), Performance Management Team and Human Resource merit Promotion and Selection Board (HRMPSB), among many others.
Having obtained his CS Professional Eligibility in 2000 and Career Executive Service Eligibility (CESE) in 2014, Mr. Santos has an extensive background in national and local government service. Prior his appointment to PSALM Corporation, he was a Deputy Administrator and Deputy Director General at two (2) other GOCCs. He also served as Municipal Councilor of LGU-Marilao, Bulacan from 1992 to 2001 and as Provincial Board Member of Bulacan from 2001 up to 2010.
He completed his Bachelor of Arts degree in Political Science and Juris Doctor degree in the University of Santo Tomas and San Sebastian College, respectively.