10 Sep 2005
Department of Finance (DOF) undersecretary Nieves L. Osorio will assume the presidency of the Power Sector Assets and Liabilities Management (PSALM) Corporation, the government agency tasked with the disposition of all assets of the National Power Corporation (NPC), including its privatization. Osorio will replace Raphael P.M. Lotilla, who was recently named secretary of the Department of Energy.
Osorio, who was the guest of honor during the fourth anniversary celebration of PSALM, said the corporation’s success in achieving its mandate would hinge primarily on the cooperation and synergy between and among PSALM’s employees and its officials.
As undersecretary of Finance, Osorio has been at the forefront of pushing the government’s fiscal prudence measures, including the government’s privatization program and overseeing the performance of the government corporate sector.
In her new post, Osorio brings years of experience working in the power industry as a representative of the DOF in various capacities. She was appointed director in the board of NPC, the National Transmission Corporation (Transco) and PSALM as an alternate of the DOF secretary. She also represented DOF in the steering committee of the Electric Power Industry Reform Act, the law that created PSALM. She became a member of the audit committee of Transco and was named vice chair of Transco’s board technical committee.
Moreover, Osorio has solid corporate experience. She was vice president and chief operating officer of the Philippine National Oil Company from 1996 to 2001, as well as COO of the Subic Bay Metropolitan Authority from 1995 to 1996.
Osorio, whose work as DOF undersecretary entailed handling the department’s Corporate Affairs Group and the Policy and Development Management Services Group since 2001, is a Bachelor of Statistics graduate of the University of the Philippines Diliman where she also completed her Masters degree in Business Administration.
Osorio’s expertise in tax law, statistics, research, budget and finance enabled her to carve a niche in the academe, private corporations, government and international organizations. She was also an active participant in various developmental affairs and social welfare programs of the government.
Strategic Communications and Partnership Division |