Celso to Zamcelco: Fix your system’s loss or hemorrhaging will continue PDF Print E-mail
Tuesday, 22 December 2015 15:40

byJUBELS SANTOS

District 1 Congressman Celso Lobregat exhorted officials of Zamboanga City Electric Cooperative (ZAMCELCO) to fix the system’s loss before even considering the sale of the ZAMCELCO property in Barangay Putik.

Lobregat issued the call at a press conference called by ZAMCELCO on Monday morning held at ZAMCELCO boardroom which was attended by top ZAMCELCO officials led by Board Chairman Omar Sahi, members of the Board of Directors, OIC-GM Ed Ancheta, and Engr. Ruben Conti of the Alcantara Group of Companies which operates the Western Mindanao Power Corporation (WMPC) in Sangali.

Lobregat, who is the Vice- chairman of the House Committee on Appropriation handling the Energy Sector, reacted to a question by a mediaman regarding a proposal by an out-of-town big investor to buy its Putik property which sale ZAMCELCO officials consider as a solution to the cooperative’s huge indebtedness resulting from its big system’s loss.

Lobregat emphasized that unless ZAMCELCO fixes its system’s loss problem which is pegged at 20 %, or 7% higher than the allowable NEA-prescribed rate of 13 %, the sale of the property will not stop ZAMCELCO’s “hemorrhaging”.

Lobregat explained that every 1% system’s loss per month is translated into P 2-million lost revenue. At 7% system loss in excess of the allowable rate of 13 % a month, ZAMCELCO loses P 14-million per month. Multiplied by 12 months a year, the lost revenue as a result of the system’s loss is P 168-M a year. In another 5 years’ time, ZAMCELCO would have lost or incurred an additional debt of Php 840-M. Lobregat said “so if the property is sold and part of the debt is paid but the system’s loss continues what will ZAMCELCO sell next?”

Another issue is the authority needed for such sale. Lobregat cited PD 269 section 36, Disposition of Property which provides that the sale must be “authorized by the affirmative vote of not less than a majority of all members of the cooperative”. In other words, the authority is not just a simple majority of the members attending a general assembly.

Lobregat, however, said that up to the present, ZAMCELCO has not presented the proposal, including the terms and conditions of the sale. Said proposal, he added, will have to be studied as to pros and cons to ZAMCELCO on the proposed sale. If it is indeed beneficial to sell the property including terms and conditions that would benefit ZAMCELCO, thenthere will be no objections. But the system’s loss has to be addressed before anything else. — Jubels Santos