News

NPC Alliance Corporation (NPCAC), the biggest debtor of Power Sectors Assets and Liabilities Management (PSALM), finally has settled on P611.36 million outstanding obligation. 
 
In July 2019, PSALM has given 14 firms 10 days to pay long-overdue obligations totaling some P1.931 billion or face legal action. 
 
NPCAC through its President/CEO, Mr. Amir Hatami Ramsheh, and its Finance Director & treasurer, Mr. Homayoon Izadi, has been entered into a Special Payment Agreement (SPA) with PSALM regarding its unpaid P611.36 million power bills and paid/settled most of the outstanding obligation in 2019. The balance will be paid on time, with respect to the terms stated in the SPA.
 
Related Links: 

https://www.bworldonline.com/npc-alliance-settles-arrears/

https://www.dof.gov.ph/psalm-sends-out-final-payment-demand-to-14-entities-with-p1-9-b-arrears/
 
https://www.bworldonline.com/psalm-duns-14-firms-for-p1-9-billion-arrears/ 
 
https://business.mb.com.ph/2019/07/16/psalm-orders-14-firms-to-pay-arrears/