Beng backs Zamcelco’s new source of funding PDF Print E-mail
Saturday, 16 July 2016 11:27


Mayor Beng Climaco on Friday declared her all out support to an initiative aimed at finding new source of funds that would bail the Zamboanga City Electric Cooperative (Zamcelco) out of its present financial losses through the so-called Investment Management Contract (IMC).

“We want to infuse an IMC in Zamcelco but it must be made clear to its member-consumers, what we are entering into, because at the end of the day it will be all of us who will pay for the charges,” Mayor Climaco emphasized at the public information drive on IMC jointly initiated by Zamcelco and the National Electrification Administration (NEA).

As city mayor, Climaco underscored, it is her duty to promote the general welfare and protect the rights of the people, including the right to sustainable and renewable sources of power.

She said the IMC is a measure to improve the power utility’s financial condition by feeding new source of income and encourage private sector participation.

“It is important to highlight their active participation in the formulation of policies, encompassing the terms of reference (TOR) that will serve as blueprint in the execution and implementation of the IMC with a deserving feeder,” she said.

“I, together with the city councilors, support the implementation of IMC,” the mayor declared, however, she added that the seeming last of effort on the part of Zamcelco to encourage the member-consumers to participate in the formulation of the TOR should not be overlooked.

Further, she pointed out that the active participation of the member-consumers and other concerned sectors must be recognized and respected, after all the final TOR must pass through the review and approval of Zamcelco’s member-consumers in a meeting specially called for the purpose in accordance with the applicable provisions of Zamcelco’s By-Laws.

Early on, the chief executive lamented that the shortage of water and the blackouts were being blamed on the city government.

“What is Zamcelco as a Board doing? They must be proactive, to explain to the people. Zamcelco’s accessibility must be readily available because they are beholden to the people and their direct mandate is to service the people with power,” she said.— Vic Larato