The consolidated version of the three House Bills establishing the Mindanao Power Corporation (Minpocor) will be up for committee discussion next month.
The measures are House Bill 2621 sponsored by Congressman Celso L. Lobregat; HB 4883 by Congressmen Rufus B. Rodriguez and Representative Maximo B. Rodriguez, Jr.; and HB 676 by Congressman Edgardo R. Masongsong.
Masongsong, who was a guest at a press briefing by the Association of Mindanao Rural Electric Cooperatives Inc. (Amreco) Tuesday, said the three measures seek to place under government control the Agus-Pulangi Complexes through the establishment of Minpocor, which will be a government-owned and controlled corporation (GOCC).
He said the bills were consolidated after a meeting between the Committees on Government Enterprises and Privatization, Energy, and Mindanao Affairs last March.
Masongsong said the consolidated version will be presented to the Technical Working Group on April 27. On May 4 or May 5 the group will present its report to the tripartite committee to deliberate the substitute bill.
Romeo Montenegro, Mindanao Development Authority (Minda) director of investment promotions and public affairs, said on Wednesday they are pushing for the purchase of Agus-Pulangi Hydropower Complexes by Minpocor rather than have it transferred by the Power Sector Assets and Liabilities Management Corporation (Psalm) to Minpocor.
"We would rather demonstrate that Mindanao is capable of buying the asset from Psalm," he said.
Montenegro said they will be presenting proposals and options for the capital formation of Minpocor. Minda is providing assistance in the crafting of the consolidate bill.
He said to be discussed is where Minpocor will get the capital to buy the power complexes.
Among the options they are looking at is to borrow from the national Government or to float bonds.
Montenegro said they are hoping the substitute bill will be discussed in a plenary session in June.