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Friday, May 20, 2005
Power firm is civic group's top fund giver
DAVAO Light and Power Company, a leading member of the Aboitiz Group of Companies, is the single biggest payer of membership contributions to the Philippine Business for Social Progress (PBSP) since 2001 up to the present.
This was disclosed during an assessment meeting of the Mindanao committee of PBSP, the corporate foundation that implements projects on social development for its member companies all over the country.
The meeting, presided over by PBSP Mindanao committee chair Paul Dominguez, was held on May 13 at the Grand Men Seng Hotel in Davao City.
According to records presented by PBSP to committee members, Davao Light paid a total of P3,089,351 in membership contributions starting from Operating Year 2001 up to 2004.
It said that another Aboitiz corporation also joined Davao Light as a consistent contributor to PBSP Mindanao.
Cotabato Light and Power Company in Cotabato City contributed P 278,774 during the same period.
The two Aboitiz power utilities accounted for P3,367,125, or 72 percent of the combined total contributions of all member firms based in Mindanao during the four-year period.
Aside from the amount remitted by Davao Light twice annually to PBSP, the electric utility also implements its own corporate social responsibility program.
Its beneficiaries are people in communities within its franchise.
Davao Light is a founding member of PBSP way back in the middle 70s.
For Bisaya stories from Davao. Click here. (May 20, 2005 issue)
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