PSALM Demands Payment of PhP1.93B in Arrears

The state-run Power Sector Assets and Liability Management Corp. (PSALM) has ordered 14 companies to pay a total of PhP1.93 billion in dues or face charges in court, the Department of Finance (DOF) said Tuesday.

In a statement, the DOF said Psalm president and chief executive Irene Besido Garcia and vice president for finance Lourdes Alzona already sent out final demand letters giving the 14 firms 10 days to pay their arrears.

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