CELSO instrumental in IMC step up -Sahi Print
Monday, 27 November 2017 17:23

House Committee on Appropriations Vice-Chairman and Congressman Celso Lobregat was instrumental in realizing a positive result in the most recent meeting of Zamboanga City Electric Cooperative (ZAMCELCO) and the National Electrification Administration (NEA) with regards to the long awaited implementation of the Investment Management Contract(IMC).

ZAMCELCO Board President Omar Sahi,Al Hajj revealed in a local radio interview over the weekend that during the meeting of ZAMCELCO Board and NEA officials last Thursday in NEA central office, Congressman Lobregat was personally invited by NEA Administrator Edgardo Masongsong to witness and be part of realizing the best option for the local electric cooperative cobsidering that the solon himself is hands on in looking for the best solution for ZAMCELCO's ailing status.

Recalled that Lobregat himself wrote the NEA Administrator hinself to make sure that the IMC should be materialized the soonest possible time in order to save the said electric cooperative.

During the meeting, Masongsong explained to the ZAMCELCO board the presence of Lobregat as one of the city officials who is pushing for the best remedies to the power problem in Zamboanga City.

Sahi said that Masongsong stressed out that in the event the IMC bidding will again fail for the 3rd time next month, it will be NEA who will take over in the management of ZAMCELCO in order to save it from bankruptcy,a thing which was strongly opposed by Lobregat stressing the importance of the IMC  in lifting the present status of the local electric cooperative.

"Congressman Lobregat stressed to Masongsong cay no querre ele el NEA take over,because of bad experiences with them in the past,he preferred pushing the IMC with valid justifications which was alao conformed by Masongsong," Sahi said.

Because of this positive result in their recent meetings,Sahi said that by next month,the IMC will already be materialized with MERALCO who came into terms with NEA and ZAMCELCO board for the IMC,and after Aboitiz Corporation backed-out having some issues and concerns about the Terms of Reference (TOR) of the same proposed contract.

Sahi said that the issue about the ZAMCELCO property swapping was also discussed during thr meeting but if was hold i abeyance pending the outcome and realization of the IMC in December.

"The issue about property swapping with Robinsons Corporation is set aside in the meantime ehile we are working on the IMC,it can come on a later part if we become stable in terms of management and operations upon the infusion of capital from the IMC," Sahi said.

Sahi said that the presence of Congressman Lobregat was a huge influence for NEA to agree in the proposed solution to the problem of ZAMCELCO.

"We really would like to thank Congressman Lobregat in helping us come up with the final terms with NEA,bien grande gat disuyu ayuda to materialized whst we wanted to happen in saving our electric cooperative," Sahi said. - Dexter Yap/PR