Bacolod Mayor Evelio Leonardia said the city has requested the Government Procurement Policy Board for an immediate assessment of the query about the bidding for the privatization of garbage collection in Bacolod City from the Bids and Awards Committee.

Leonardia said he met with the executive director of GPPB with some BAC members last week and requested him for an immediate reply.

City Assessor Maphilindo Polvora said former BAC chairman Goldwyn Nifras had written GPPB Executive Director Dennis Santiago on August 7 asking for legal advice as to whether or not they should award the project, or disqualify Metrowaste Solidwaste Management Corp. because the lot it submitted for its transfer station is located in an area classified as residential.

Gov’t urged not to sell
power plant’s contract

The Freedom from Debt Coalition-Visayas is urging the national government to stop its plan to sell the Independent Power Producer Administration Contract of the Unified Leyte Geothermal Power Plant, it said in its press release recently.

It said it believes the plan will result in rising electricity rates in the Visayas primarily in Eastern and Central Visayas. The island of Negros and Panay, and even some part of the Bicol Region in Luzon will also be affected, it said.

The press release said that last October 4, the state-run Power Sector Assets and Liabilities Management Corp. has bidded out the IPPA covering the 640-megawatt ULGPP.

Security Bank reports
55% hike in net profit

Security Bank Corp. reported third quarter results with a 55 percent year-on-year increase in net income to P6.2 billion in the first nine months of the year and a return on equity of 25 percent.

These results were driven by a 28 percent growth in its loan portfolio, a 37 percent increase in its total deposits to P 138 billion, and a 28 percent expansion of its balance sheet to reach P253 billion in total resources as of the nine month period ending September 30, a press release from SBC said.

SBC president and chief executive Officer Alberto Villarosa noted that their year-to-date performance reflects their clients’ generally positive sentiment on domestic economic activity and the Security Bank Group’s agility in addressing opportunities.