MINDANAO business leaders who participated in the recently concluded 24th Mindanao Business Conference (Minbizcon) in Dipolog City passed a resolution, as part of their policy agenda, seeking for the immediate passage of the proposed creation of Mindanao Power Corporation (Minpocor) in Congress.
Romeo Montenegro, Mindanao Development Authority (Minda) director for investment promotions and public affairs, told Sun.Star Davao that a resolution supporting the creation of Minpocor was pushed during the business conference.
"At present, the committee reports from the joint committees on energy, government enterprise and Mindanao affairs are still being finalized," he said.
He added that once it is completed, it will be submitted for plenary.
The proposed bill seeks to place under government control the Agus-Pulangi complexes through the establishment of Minpocor, a government-owned and controlled corporation (GOCC).
The Agus-Pulangi complexes provide most of the island's power supply. More than 50 percent of Mindanao power is sourced from hydropower.
Montenegro said they already conducted talks with Mindanao-based senators including Sen. Aquilino "Koko" Pimentel III and Senator Ferdinand "Bongbong" R. Marcos, Jr. who already expressed support to Minpocor.
"So far, we are waiting and hoping for a Senate version to be filed because it will hasten the process," Montenegro said, adding that they are expecting some progress to the process after the Congress completed deliberation on the proposed national budget and the Bangsamoro Basic Law (BBL), ehich are their priority agenda.
Mindanao businessmen also urged the National Government to exclude Lake Lanao from the areas under the exclusivity authority of the Bangsamoro government as the Agus Power plant complex sourced its water supply from the lake.
"The Lake Lanao plays an essential role to the energy security of the whole island thus it should not be exclusive to only one area as it will directly affect the efficiency of the Agus Power plant," read the Minbizcon resolution.