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.

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