LOKOHAN NA, PAKAPALAN PA NG MUKHA SA PSALM!

LOKOHAN NA, PAKAPALAN PA NG MUKHA.

This is the best way to describe the plan of the Power Sector Assets and Liabilities Management Corp. (PSALM) to ask the Energy Regulatory Commission (ERC) for a 12-15 centavo increase in power rates next month.

And if the ERC approves this increase WITHOUT A THOROUGH, as in EXTENSIVE public hearing and investigation, may they all burn ALIVE in hell.

Congress had created PSALM in 2001 to manage the assets and liabilities of Napocor, which was supposed to be dismantled and its assets sold to private investors.

PSALM declared that total debt in 2001 stood at $16.3 billion, while sales of Napocor assets have amounted to $10.6 billion. But as of Dec. 31, 2010, PSALM says total debt still stood at $15.82 billion (P696.08 billion at P44 to the dollar).

SAAN NAPUNTA iyung $10.6 BILYON na napagbilhan ng PSALM sa mga ari-arian ng National Power Corp (Napocor)? Bakit ni wala pang $500 milyon ang nabawas sa utang?

It’s CRYSTAL CLEAR that the bulk of the $10.6 billion WAS NOT PAID to outstanding loans. WHY? WHO allowed it?

WHERE was the money spent? WHAT was the justification for practically IGNORING the loans? Where are the records of the disbursements of the $10.6 billion?

PSALM had better not have the FACE, and the STOMACH, to claim that interests of the loans ate up the $10.6 billion.

Hindi kasing ESTUPIDO na tulad ng akala nila ang Sambayanan para hindi malaman na ang interes ay LILIIT habang ang utang ay nababawasan.

And remember, friends, apart from the $10.6 billion, Napocor is STILL EARNING from its sale of power to Meralco.

The issue here is not just another increase in power rates.

DAGDAG pahirap na naman ito, na kung tutuusin ay HINDI NAMAN NATIN KASALANAN! TATAAS na naman ang LAHAT, MULA BILIHIN hanggang sa mga serbisyo. 

(To be continued this afternoon)

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Two of our friends on “Drug Mule Probe Must Start Now”:

DIEGO YURI of Manila:

These are good suggestions, Boyet. We wonder how these drugs get to leave NAIA.

LARRY LOPEZ MIRANDA of Jeddah, Saugi Atabia

Ang lahat ng ugat ng mga iyan ay 'kahirapa' at ang ugat ng kahirapan ay ''korapsyon''!