Solons eyeing
amendments to Epira
BY JUANCHO GALLARDE

Lawmakers are eyeing amendments to the Electric Power Industry Reform Act of 2001, for electric cooperatives in the country to be exempted, not only from paying value-added tax on the distribution, supply, metering and systems loss, but also on the power generation aspect.

Rep. Crescente Paez, (Coop/Nattco Partylist) and vice chairman of the House Committee on Cooperatives, in his speech during the 33rd general assembly of the Negros Oriental II Electric Cooperative 2 in San Jose, Negros Oriental recently, said millions of pesos can be saved annually in E-VAT.

Paez was instrumental in the exemption of electric cooperatives from paying the E-VAT, especially coops registered with the Cooperative Development Authority.

NORECO 2 explains P39M
‘imported poles contract’
BY JUANCHO GALLARDE

The Negros Oriental II Electric Cooperative 2 has paid P39,590,000 to a contractor in China in 2011, but the contracted imported concrete poles will arrive next week yet.

This was noted in a report submitted by the audit committee composed of Sahara Andaya, Dahlia Cual and Eduisa Rositte Diocos, during the 33rd General Assembly of the cooperative, recently.

The report said that importation of the concrete poles was supposed to be on installment basis from 2011 to 2015, but 17 post-dated checks had been forwarded already in 2011, for a total of P39.59 million of checks, which are as good as cash.

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