Dalipe says Zamcelco should not delay IMC Print
Tuesday, 07 August 2018 14:28

District II Congressman Mannix Dalipe yesterday stressed that it is high time that the Investment Management Contract (IMC) of the Zamboanga City Electric Cooperative (Zamcelco) to push through, adding that it is so far the best solution to ensure the sustainability and viability of the local electric cooperative.

“Do not delay the IMC bidding. This is the solution to the serious problems besetting Zamcelco now,” Dalipe pointed out in an interview with Daily Zamboanga Times.

The congressman said that he strongly supports the IMC of the local electric cooperative since it is the recovery option chosen by the member-consumers in a vote during the Annual General Membership Assembly (AGMA).

Dalipe believes that through the IMC, the winning private investor can infuse much needed capital to save Zamcelco from its worsening financial difficulties.

“The winning bidder will be investing huge capital in the local power cooperative. And normally, with its big investments, they are expected to help Zamcelco work harder and more efficiently in managing the performance of the cooperative.

The congressman said that with a private investor in the picture, he is confident that Zamcelco will be guided and will work harder to cut down the current very high systems loss, one of the main reasons why the coop is losing millions of pesos every year.

He said that it is also a welcome development that at least five reputable private corporations will be joining the IMC bidding by this month as compared to only two bidders in the previous IMC biddings.

Meanwhile, on the issue of a possible National Electrification Administration (NEA) takeover on Zamcelco, Dalipe said that such move will not help the power cooperative solve its financial and systems loss problems.

He explained that NEA does not have the necessary manpower and much less the financial resources to help the ailing power cooperative.

“NEA lacks the manpower and resources to save Zamcelco. What NEA can do is just to increase the debts of the power cooperative,“ Dalipe said.

Nevertheless, the congressman said that he favors NEA to conduct a probe on the cooperative for alleged irregularities during the past management.

“But first, let’s help Zamcelco in its IMC. The thorough investigation on alleged irregularities in the power cooperative could be carried out separately,” Dalipe stressed.

He explained that for the meantime, "the main focus should be on the IMC since as member-consumers, we want to ensure the financial viability and sustainability of Zamcelco.” (Jemuel E. Mojica)