by Myrna Velasco February 1, 2016
State-run Power Sector Assets and
Liabilities Management Corporation (PSALM) had undergone another round of
organizational restructuring, with its presidency still unfilled at this point.
In a statement to the media, the
company has affirmed the movements of some key designations as recent PSALM
president and chief executive officer Lourdes S. Alzona returned to her
previous post as vice president for finance.
While no president and CEO has been
named or elected yet for the government-owned firm, Alzona will also
concurrently be officer-in-charge.
The company further announced that
Arnold C. Francisco had been appointed Vice President for Asset Management
Group; and Cecilio B. Gellada Jr. was named General Counsel/Vice President for
the Office of the General Counsel.
PSALM said “the recent movements
were implemented to adhere to the principles of good corporate governance and
to further enhance PSALM’s institutional capacities in delivering its mandate.”
In going back to her old post,
Alzona has indicated that “the trust and responsibilities as well as
expectations of the job are the same for PSALM CEO and PSALM OIC.”
The only difference, she explained,
is that “the latter is being in career service and be able to serve the
government more.”
As PSALM president, Alzona’s term
could end when the current administration steps down; but if she trails her
career service path, she could stay in the company longer.
PSALM still has remaining power
assets for privatization – including supply contracts of the independent power
producers (IPPs) as well as some major hydro plants, mainly the Agus-Pulangui
hydro facilities in Mindanao.
The company is saddled also with the
mandate on liability management of the power sector’s debts and outstanding
obligations.
Its most recent applications for
cost recoveries on universal charges for stranded debts and stranded contract
costs are still pending with the Energy Regulation Commission.
No comments:
Post a Comment