SGMA overwhelmingly approves Investment Management Contract PDF Print E-mail
Wednesday, 12 September 2018 14:20

By Monch Follosco and Jemuel E. Mojica

The Special General Membership Assembly (SGMA), attended by more than 10,000 member-consumers, overwhelmingly confirmed the Investment Management Contract entered into by the Zamboanga City Electric Cooperative (Zamcelco) with the reputable private investor, Crown Investment Holdings during the conduct of the special assembly at the Zamcelco’s Covered Court yesterday morning.

The member-consumers, who technically are the owners of the local power cooperative, overwhelmingly approved a resolution granting authority to Crown-Desco to manage Zamcelco.

Former Mayor Manny Dalipe presented the resolution calling for the approval by the members of the bidding conducted earlier by the board of directors and was seconded by Letty Delos Reyes, former barangay official of Culianan.

According to Zamcelco Board President Omar Sahi, an estimated 10,000 member consumers attended the assembly and nobody registered any opposition to the motion of Dalipe.

He revealed that the board will now convene for the passage of a resolution which will be addressed to the National Electrification Administration (NEA) for confirmation of the IMC to the joint venture of Crown-Desco.

The Board president also gave the assurance that the conduct of the SGMA was in order, and that all the proper procedures in calling for the said special assembly was strictly adhered.

“Even the representatives del NEA na assembly were in attendance so meaning to say okay ya sila con el diamun trabaho,” Sahi stressed.

Zamboanga Times noted that member-consumers have trooped to the special assembly meeting at Zamcelco compound as early as 6 a.m., a positive indication that they are very much concerned and supportive on the developments in their local power cooperative.

“For many years as Board President, this is my first time to see people as early as six o’clock in the morning coming here to attend the assembly,” Sahi said.

Sahi said that the Board is elated for the positive response of the member-consumers. “In fact, they overwhelmingly support the IMC of Zamcelco and Crowns Holdings,” added Sahi.

He said that although there are some people who are questioning the IMC, still an overwhelming majority approved and confirmed the Investment Management Contract since most of the member-consumers strongly believe that this is the most viable solution to help Zamcelco.

Mayor Beng Climaco who also attended the special general assembly said that the city government supports the IMC since it appears that it is the most practical and viable solution  to help Zamcelco’s continuous operation.

“Let us all help Zamcelco and be part of the solution,” she stressed.

Meanwhile, in spite of successful conduct of SGMA and confirmation of the IMC, Sahi said that he is set to question NEA-appointed ‘Task Force Duterte’ head Adelino Laput for allegedly ordering official and employees of Zamcelco not to attend yesterday’s special assembly and also the non-approval of its budget.

I will be questioning Laput, porque le hasta empleyado nuay manda atende na SAGMA y tambien el mga facilidad nuay dale,” Sahi said.

The Board president also revealed that Laput also brought the department heads to Cebu, thus leaving no skeletal force to help in the conduct of the assembly.

“Worse he did not approve our request-budget for the conduct of this assembly, what’s his interest?” Sahi lamented.

With the confirmation by the General Assembly, it  is also expected to fast track the construction of San Ramon Power Incorporated (SRPI) to augment city’s power supply. (Monch L. Follosco and Jemuel E. Mojica)