Council backs rehab move for Zamcelco PDF Print E-mail
Wednesday, 06 May 2015 13:18

By bhong simbajon

 

The members of the City Council  collectively supported a resolution sponsored by Councilor Jawo Jimenez for Zamboanga City Electric Cooperative to enter into an Investment Management Contract (IMC) with a private corporation to save it from financial illness and uplift its status to Category A.

This came after the councilors heard the testimony of Pampanga Electric Cooperative II (PELCO II) General Manager Amador Guevarra who personally appeared at the Council during its regular session yesterday to relate the strategies they adopted and expounded on the importance of entering into an Investment Management Contract (IMC) which has brought the once ailing electric cooperative to recovery.

“We thought it was the end of the road for us when we experienced the hard times reaching to a certain point that we have lost hope, but we found the light at the end of the tunnel when we took the risk and found the ultimate solution by way of entering into the IMC program,” Guevarra said.

He revealed that it is like a “rags to riches” story which inspired the cooperative and its management and employees seeing their brighter future thru the IMC program.

Guevarra said before entering into the IMC program in 2008, their cooperative  was in limbo, with high interest rates in bank loans, high system loss, poor management and customer service, inefficient financial stability and wracked by corruption. But when they decided to enter into the IMC, they started to become an efficient, reliable and safe network with reasonable rates. Billing are accurate, served and collected online, member consumers can pay anywhere, they have three-day energization special program, and regulatory compliance with 14% a year after year sales growth.

“Ito ang naging gabay ko sa aking mga ka-trabaho,sabi ko sa kanila, mag-martsa tayo ng sabay, ang mabagal-maiiwan, ang haharang-masasagasaan, sabay-sabay tayong magmartsa tungo sa tagumpay,” Guevarra said in tagalog.

He added that at present, they have obtained the goal of freedom from indebtness, broke the system loss, realized financial breakthrough, obtained capital for capability build-up, improved investment riskness and have firmed-up their power supply up to 100 percent performance reliability.

“If PELCO II was able to achieve it, of course Zamcelco can, because, I believe that we have the same fate as where our roots came, we truly believe we are living witness of how the IMC program has changed our cooperative into a Category A with no worries at all,” Guevarra said. —  Bhong Simbajon