HomeNewsBeng insists on IMC to rehab Zamcelco

Beng insists on IMC to rehab Zamcelco

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Mayor Beng Climaco has asked the National Electrification Administration (NEA) to review the failed investment management contract (IMC) and find ways and means on how to pursue its implementation.

This, as the mayor remains resolute in her stand to have the IMC not only because this is the plea of the member-consumers but this is also the best way possible to rehabilitate the ailing Zamboanga City Electric Cooperative (ZAMCELCO).

The mayor recently convened NEA and Zamcelco officials to find out the status of the IMC particularly the reasons for the failed bidding.

“This (IMC) was the request of the members during the AGMA (annual general members assembly) last year, to take over management of Zamcelco,” she said in a recent interview. “We have asked the NEA to review (the contract) because we want to prevent Zamcelco status to be ailing.”

She emphasized that IMC is needed to help Zamcelco start anew given the huge system’s loss and power pilferages that the cooperative is experiencing at present.

During the meeting, Zamcelco officials led by OIC General Manager Engr. Eduardo Ancheta explained that the IMC bidding recently was declared a failure as the applicants did not submit their bids citing inconsistencies in the terms of references or TOR.

“We recommended that the IMC be submitted and reviewed by NEA again but we remain firm that there should be an IMC to manage the cooperative to prevent bankruptcy,” the mayor added.

 

Nonetheless, the Zamcelco board members present during the meeting, have assured the mayor that sale of properties to rehabilitate the cooperative is out of the question.  (Sheila Covarrubias)