Solidarity in the time of COVID-19 -- MS Supplement
Advertisement

PSALM says principal debt reaches P417.9b

The principal financial obligations of state-run Power Sector Assets and Liabilities Management Corp. has reached P417.88 billion as of end February this year.

PSALM president Irene Joy Garcia said the amount consisted of P273.32 billion in debts and P144.56 billion in lease obligations.

“Please be assured that despite all the challenges created by the COVID-19 situation and the enhanced community quarantine, PSALM is still able to remit payments not only for the principal financial obligations, but also for the interests, the borrowing costs as well as all other payables of PSALM,” Garcia said.

Garcia earlier said among PSALM’s goals this year was the liquidation of maturing financial obligations amounting to P11.943 billion.

PSALM earlier announced it cut its principal financial obligations to P422.011 billion in 2019, down 6 percent from P449.19 billion in 2018.

Topics: Power Sector Assets and Liabilities Management Corp. , PSALM , coronavirus disease 2019 , COVID-19
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementGMA-Working Pillars of the House
Advertisement