posted April 05, 2020 at 07:20
pm by Alena Mae S. Flores
The
principal financial obligations of state-run Power Sector Assets and
Liabilities Management Corp. has reached P417.88 billion as of end February
this year.
PSALM
president Irene Joy Garcia said the amount consisted of P273.32 billion in
debts and P144.56 billion in lease obligations.
“Please
be assured that despite all the challenges created by the COVID-19 situation
and the enhanced community quarantine, PSALM is still able to remit payments
not only for the principal financial obligations, but also for the interests,
the borrowing costs as well as all other payables of PSALM,” Garcia said.
Garcia
earlier said among PSALM’s goals this year was the liquidation of maturing
financial obligations amounting to P11.943 billion.
PSALM
earlier announced it cut its principal financial obligations to P422.011 billion
in 2019, down 6 percent from P449.19 billion in 2018.
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