PSALM remits P377.5M to LGUs, communities

Quick Summary:

THE Power Sector Assets and Liabilities Management (Psalm) Corp.has turned over to local government units (LGUs) and various communities over P377 million to support electrification and livelihood programs, among others.

For the Psalm, these proceeds come from the one percent of the gross sales or receipts from the preceding calendar year.

This is pursuant to Section 66 of Republic Act (RA) 9136 (Electric Power Industry Reform Act of 2001, or “Epira”).

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Article Details

Author / Journalist: Lenie Lectura

Category: BusinessStartups

Markets: Philippines

Topics: Communities National Proceeds Psalm Funds 1-94 Corp Host Power Management Plants

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-14 @ 12:47:38 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 389 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 28711598

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