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MANILA,
Dec. 2 (PNA) - Only an order from the court could stop and prevent the
Power Sector Assets and Liabilities Management Corporation (PSALM) from
bidding the 25-year concession of the National Transmission Corp.
(TransCo).
“Unless
PSALM receives an order from the court, we will push through with the
TransCo bidding,” stressed Jose Ibazeta, president of PSALM.
The
disqualified bidder La Costa Development Corp., has already filed a
case in court seeking to stop the TransCo bidding form proceeding.
“At this point, it is all up to the courts,” Ibazeta said.
“As I have said, my faith is strong in our judicial
system and in PSALM’s prequalification procedure,” he added.
Ibazeta
asserted that La Costa can no longer participate in the bidding since
the PSALM board already made the ruling, which means that it could no
longer consider La Costa’s prequalification requirements.
“The
prequalification period has long been over. The board has prequalified
four bidders. What would bidders and the financial community say if we
change the rules in midstream to accommodate one more bidder? To be
sure, they will wonder if we’re serious about our bidding procedures.
This is our fourth attempt at privatizing TransCo. I doubt if the
investors will come back if this round does not push
through,” the PSALM president noted.
At
the same time, Ibazeta said he welcomes any investigation since there
is nothing irregular in the process as being insinuated by some camps
that are trying to stop the auction of TransCo slated on December 12.
“Why
people are trying to stop a good thing. I am hoping that the TransCo
bidding will push through for the benefit of the country,” he said.
It
would be recalled that senators Aquilino Pimentel III and Jamby
Madrigal had been questioning the prequalification of the four TransCo
bidders and the alleged connection of Ibazeta to businessman Enrique
Razon, one of the investors which PSALM prequalified.
Likewise,
Ibazeta noted that the confidence being showed by the investors only
indicates that "there is nothing anomalous in the bidding and that we
should take advantage of this investors confidence to finally succeed
in privatizing TransCo."
“The
bidders say they are here to make an investment. This small window of
opportunity for investments to come into the energy sector will not be
around forever. So it’s really our loss if the TransCo bidding fails
again,” he said. (PNA) |
