07 Mar 2007
Mr. Jose C. Ibazeta has assumed the post of president and chief executive officer of the Power Sector Assets and Liabilities Management Corporation (PSALM), the agency tasked to privatize the assets and manage the liabilities of the National Power Corporation, in simple rites held last Friday (02 March) at the PSALM offices in Makati.
Mr. Ibazeta, whose appointment by Malacañang took effect last Wednesday (01 March), takes over from Ms. Nieves L. Osorio who officially stepped down on 28 February after one year and seven months in office.
"A lot of work is ahead of us," he said in his short remarks to PSALM management and staff who welcomed him last Friday, but he expressed confidence that the work would be done efficiently.
Lauding Ms. Osorio for doing a "wonderful job," the 64-year-old Mr. Ibazeta said he is bent on fulfilling the mandate of PSALM as stipulated in the Electric Power Industry Reform Act, practicing an open and consultative process in achieving PSALM's objectives, encouraging higher efficiency in the workplace and employing strategic planning to check any deficiency that may arise.
Mr. Ibazeta's priority is expediting the disposal of the assets of National Power. He specifically cited the 25-year concession of the National Transmission Corporation and the 600-megawatt coal-fired Masinloc power plant. Already, PSALM is in the midst of preparations for the second round of bidding for the Masinloc power facility in Zambales, with the pre-bid conference scheduled in May.
Mr. Ibazeta encouraged PSALM employees to "think out of the box" and veer away from the traditional government practice of compartmentalized operation.
"Do your job with initiative and imagination," he said. "And don't be afraid to make decisions."
A Bachelor of Science in Economics graduate of the Ateneo de Manila University, Mr. Ibazeta holds a Master's degree in Business Administration from the University of San Francisco and an MBA in Banking and Finance from New York University.
He was formerly a consultant to the chairman of A. Soriano Corporation, chairman and chief executive officer and director of Island Aviation Inc. and Stratbase Inc., and president and director of Vesper Industrial and Development Corporation.
Strategic Communications and Partnership Division |