Photo Release

January 15, 2025

Villar defends PSALM’s corporate life extension: Sen. Mark A. Villar defends Senate Bill No. 2837 which seeks to extend the corporate life of the Power Sector Assets and Liabilities Management (PSALM). During Wednesday’s plenary session, January 15, 2025, Villar pushed for the extension of PSALM’s corporate term which will expire in June 2026 or 25 years after the effectivity of Electric Power Industry Reform (EPIRA) Act of 2001. Villar said PSALM is targeting to liquidate its remaining assets for the next five years and achieve its full privatization. “In a sense, by giving them the extension of five years, we are giving them that time line in order to liquidate their remaining assets which is realistic but of course we need to be aggressive and practical…it was agreed upon that we should set a target that is achievable,” Villar said. PSALM manages the sale and privatization of the National Power Corporation's (NPC) assets. Its goal is to liquidate the NPC's financial obligations. (Senate Public Relations and Information Bureau)

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