DOF wants all power assets sold in 3 years

The Department of Finance wants to sell all government power assets in a span of three years to boost revenues.

“The original plan for PSALM (is) to get rid of the assets after five years. That was 10 years ago. We have to speed up their disposal of assets,” Finance Secretary Carlos Dominguez said.

Pressed for details, the finance chief said he “wants to finish it in three years.”

Dominguez was pertaining to Power Sector Assets and Liabilities Management (PSALM) which was mandated by law to sell and liquidate state power assets to raise revenues and reduce government debts.

As a first step, Dominguez said he would order a revaluation of the assets before they are put on the auction bloc.

Read more here.

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