(Support for IMC continues,) Councilors approve resolution of support Print
Thursday, 06 September 2018 16:47

Support for the Investment Management Contract (IMC) entered into by the Zamboanga City Electric Cooperative (ZAMCELCO) and the Crown-Desco joint venture continues to get support, this time from the Sangguniang Panlungsod of Zamboanga City.

This, after the City Council approved a resolution in their last session expressing total support for the award made by the Zamcelco Board to Crown-Desco joint venture of the Investment Management Contract provided all provisions of existing laws, rules and regulations were properly observed.

Councilor Cesar Jimenez, Sr., proponent of the edict, said the P2.5 billion bid of the company is more than enough to pay the debts of the cooperative to the Independent Power Producers (IPPs) and improve its facilities.

“Amo ya man este todo maga consumers ta esperansa para tiene ya un grande compania que aguanta con el Zamcelco through the IMC para puede ya quita otravez experiencia uninterrupted electric service,” Jimenez explained.

Jimenez, however said that he hopes the electric cooperative will furnish the council a copy of the contract before they submit it to the National Electrification Administration (NEA).

“Ya quita ya el tunuk del cooperativa when it comes to financial capability cay talli ya ahora el Crown Investment Holdings que ay maneja con el Zamcelco,” he pointed out.

The councilor hopes that the new company will be able to bring down the systems loss which is still high at 23 percent. “So bonito este cosa ya pasa poreso todo maga consejales presente ya aprova con este resolution,” Jimenez added. (SS)