MALACAÑAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
[ MEMORANDUM ORDER NO. 526, August 11, 1975 ]
CREATING AN INTER-AGENCY GOVERNMENT PANEL TO NEGOTIATE THE SALE AND TRANSFER OF THE GENERATING PLANTS OF MANILA ELECTRIC COMPANY
Pursuant to the provisions of the Memorandum of Agreement dated 7 August 1975, entered into by and between the Republic of the Philippines, represented by the Power Development Council and Manila Electric Company, Inc. (MECO), there is hereby created a government negotiating with duly authorized representatives of MECO the terms and conditions necessary to effect the sale and transfer of MECOs generating plants and transmission facilities to Government, consisting of the following members:
| 1. |
Mr. Ramon R. Ravanzo |
|
Chairman |
|
General Manager |
|
National Power Corporation |
| 2. |
Mr. Gabriel Itchon |
|
Vice-Chairman |
|
Undersecretary |
|
Department of Industry |
| 3. |
Mr. Victor Macalincag |
|
Head, Technical Panel |
|
Assistant to the Secretary |
|
Department of Finance |
| 4. |
Mr. Guillermo Soliven |
|
Member |
|
Director |
|
Management of External Debt and Investment Account Division |
|
Central Bank of the Philippines |
| 5. |
Mr. Casiano Endriga |
|
Member |
|
Head, Economic Research Department Securities and Exchange Commission |
| 6. |
Mr. Florentino Villarmia |
|
Member |
|
Plant Superintendent |
|
Bataan Thermal Plant |
|
National Power Corporation |
| 7. |
Mr. Arturo Almeda |
|
Member |
|
Consultant |
|
Power Development Council |
| 8. |
Mr. Manuel Garcia |
|
Member |
|
Supervising Consultant |
|
Bureau of Industrial Coordination |
|
Department of Industry |
| 9. |
Mr. Juan Carlos Guadarrama |
|
Member |
|
Development Management Officer |
|
Development Management Staff |
|
Office of the President |
In view of the aforementioned objective, the panel shall undertake the following:
1. Negotiating for terms and conditions, particularly including the detailed program of acquisition, the price, terms of payment, the estimation mechanics for evaluation of the plants, and the operational arrangements of the subject plants after purchase, where necessary.
2. Conclude subsequent and final agreements with MECO, on the above aspects, for the actual sale and transfer of the plants.1aшphi1
3. Such other action that may be needed to ensure the immediate completion of the above objectives and the continued and uninterrupted service of the power utility especially during the turnover period.
The panel is hereby authorized and empowered to call upon the appropriate departments, bureaus, agencies or instrumentalities of the government, as well as MECO and its affiliated companies including Meralco Securities.
Corporation and Meralco Foundation, Inc. and their past existing creditors and supplies, to given necessary cooperation and assistance for the successful prosecution and discharge of its functions. The members of the panel are likewise authorized and empowered to designate such persons to constitute the technical staff support attendant to the effective discharge of their functions.
Finally, the panel shall operate and continue to exercise its powers until such time as its designated tasks are completed after which a report of its accomplishments shall be submitted to the office.
By authority of the President:
(Sgd.) ALEJANDRO MELCHOR
Executive Secretary
Manila, 11 August 1975
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