Beneco urged to explain property purchase

THE BOARD of Directors of the Benguet Electric Cooperative (Beneco) and its management are urged to explain to its member consumers its purchase of a property along South Drive.

Councilor Fred Bagbagen earlier hit the Beneco Board of Directors for reckless expenditure of the cooperative’s money. Bagbagen said the Board does not have a sense of accountability.

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“Councilor Bagbagen’s allegations are serious yet we did not hear a clear explanation from the Board,” Mayor Reinaldo Bautista Jr. said.

Bautista said for the Board of Directors to claim that the purchase of property along South Drive was the best deal they had, is not sufficient to convince members that the transaction was regular.

The Beneco should explain the deal clearly, the mayor said.

Last week, Beneco published a detailed answer to the allegations made by the councilor.

BOD president Ferdy Bayasen said having a property in Baguio is to the best interest of consumers.

The two-hectare property was bought for P85 million from a loan from the National Electrification Administration.

The BOD also maintained the deal was transparent because they, as representatives of the consumers have carefully studied the purchase.

The property will house Beneco offices in one compound thereby increasing service efficiency, they say.

The loan will not be charged against the consumers, they added.

In the same property, a multipurpose gym and an assembly area will be built. The building will also host sports activities and other socially-related activities.

The compound will be patterned after the Philippine Development Academy in Cebu.

There, employees and officials of all the 129 cooperatives could hold their trainings and seminars that will help Baguio as a business and leisure destination. (Rimaliza Opiña)