Dalipe: NEA’s takeover of Zamcelco should not be a reason to delay IMC Print
Tuesday, 14 August 2018 18:04

by jemuel mojica

District II Congressman Mannix Dalipe yesterday said that despite the decision of the National Electrification Administration (NEA) to partially and temporarily takeover the Zamboanga City Electric Cooperative (Zamcelco), the bidding for the Investment Management Contract (IMC) should be given utmost priority, stressing that it is still the best solution so far to ensure the sustainability and viability of the ailing local power cooperative.

“I hope and pray that NEA’s partial and temporary takeover of Zamcelco shall not be used as a reason to further delay the scheduled IMC bidding. It is my firm belief that only the IMC is the best solution to save our local power cooperative from certain bankruptcy,” Dalipe told reporters on Saturday after attending the Energy Summit held at Zamcelco where no less than NEA administrator Edgardo Masongsong was present.

Dalipe, District I Congressman Celso Lobregat, Mayor Beng Climaco and other local officials were all one in expressing support for the IMC and NEAs temporary and partial takeover of Zamcelco during the said energy summit.

Dalipe further added that officials of NEA and Zamcelco must work together in ensuring that the IMC bidding should push through as scheduled considering the fact that the intervention of a reputable investor is the best option left for the cooperative if it wants to be saved from further financial disaster.

“Do not delay the IMC bidding. This is the solution to the serious problems that Zamcelco is facing now,” Dalipe told Zamboanga Today in an interview.

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.

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

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.

“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.

As reported during the summit, Zamcelco financial debts have already ballooned to more than P2 billion.

Dalipe pointed out that with this huge financial problem, only the entry of a stable investor can help the cooperative “rise from the worse situation.”

Meanwhile, the congressman said that he favors NEA to conduct a probe on the cooperative for alleged irregularities during the past and current 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)