THE Benguet Electric Cooperative (Beneco) needs at least another P175 million to continue its Sitio Electrification Project (SEP) in the Province of Benguet.
The provincial development scheme backed by the National Electrification Administration (NEA) was postponed after the subsidies from the national government stopped in 2014.
Network service department manager Melchor Licoben during a recent Kapihan said the SEP for Benguet needs additional budget from NEA.
Licoben expressed though an allocation was provided during former President Benigno Aquino III’s administration, the development to reach far-flung areas will require more funds.
Since the project started, Licoben said Beneco has already extended their service to 351 sitios over the past five years.
Licoben added the first batch of SEP is 86 percent complete with NEA providing the cooperative with P172 million prior to that year to mobilize its activities in Benguet.
However the need to power up another 396 sitios, which were already inspected for legislation, need funds.
“We hope this administration will continue to support this SEP so that we can really bring electricity to this far areas in Benguet,” Licoben said.
In 2008, Beneco was cited for distinction of being the first electric cooperative, out of 120 in the country, to initiate funds for sitio energization as a manifestation of the Rural Electrification Program (REP).
On the other hand, Beneco general manager Gerardo Verzosa said the cooperative are still communicating with NEA to avail of the condonation for the cooperative’s P100 million loan.
The P100 million credit financed the SEP project in Benguet in 2011, however concerns were raised after Aquino later pronounced the sitio electrification will be free.
“In 2010, President Aquino said makupad ang electrification in rural areas that is why Beneco initiated to loan to fast track the project. However it turned out ginawang free ito which leaves our cooperative in debt unlike those who just followed who availed of the subsidy at no cost,” Versoza said.
According to the general manager, Beneco has already paid around P55 million in 2014, with at least P75 million remaining balance including interest as of press time.
“We will attempt again to plead exemption for the credit, we are not requesting na ibalik yung naibayad namin pero if the government will consider sana they can call it even just to be fair,” Versoza said.
“Taking into consideration instead na bayaran pa natin, sana it can be just used for the continuation of the SEP program, at the same time it will speed up the project,” he added.