1 month Samar power co-op pays Psalm P222M Manilatimes |Biz
SAMAR I Electric Cooperative Inc. (Samelco I) prepaid P222.5 million to the Power Sector Assets and Liabilities Management Corp. (Psalm) for its restructured payables to the state-run corporation. In a statement, Psalm said Samelco I remitted P222,468,021.95 via a loan secured by the electric cooperative from Development Bank of the Philippines (DBP). “We really appreciate the efforts put in by Samelco I in settling its obligations to Psalm. It is also current in the payment of Psalm’s monthly power bills. And for this, Samelco 1 can avail of the Prompt Payment Discount (PPD) program starting next month,” Psalm President and ... more