Senate resolution seeks probe into PSALM dividend non-remittance

THE Senate has asked state agency Power Sector Assets and Liabilities Management Corp. (PSALM) to explain the non-remittance of P27.28 billion in dividends to the national government, which it said covered the “past decade.”

“PSALM must provide a detailed accounting of its liabilities to the national government and give a satisfactory explanation as to why it has not complied with its clear-cut responsibilities under the law for more than a decade now,” said Senator Sherwin T. Gatchalian, chairman of the Senate committee on energy, on Monday.

Read more here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s