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Friday, April 28, 2006
Power firm exec agrees missing chance
By Maricar Aranas
THE general manager of the Negros Oriental 2 Rural Electric Cooperative (Noreco 2) agreed with Governor George Arnaiz that the cooperative missed an opportunity when it turned down Capitol's interest-free P27 million loan offer.
General Manager Ephraim Taclob said the cooperative, which refused the offer during its general assembly, would find it hard to avail of a similar interest-free loan.
He said he did not agree with the concerns raised by those opposed to the loan that the power rate would increase because it was interest-free.
Moreover, Taclob said, loan payment would be swapped with the cost of power consumed by the Provincial Government.
Taclob lamented that because of the objection of a few, Noreco 2 lost a rare opportunity.
On the P12-million loan the cooperative was planning to borrow, Taclob explained that the money would be used to buy new power transformers and reduce systems loss.
Capitol's loan offer would have been used to upgrade the Metro Dumaguete system to address the problem of recurring brownouts in the province's economic centers.
He said that even without Capitol's loan, Noreco 2 would pursue its program to upgrade the Metro Dumaguete system.
"But where to get the money is a big question," he said.
Taclob said he would not hesitate to approach Arnaiz to help look for funds for the upgrading program because despite the setback, the governor continues to support the cooperative.
(April 27, 2006 issue)
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