ADB reconfirms support to Philippine power sector
Tuesday, September 14, 2004
MANILA, Sept. 13 (Xinhuanet) -- The Asian Development Bank (ADB) has reconfirmed its support to power sector restructuring in the Philippines, saying close cooperation between the government and its development partners will be needed in furthering the country's reform agenda.
The power sector reform agenda being pursued by the Philippine government is appropriate, the ADB Monday quoted Shamshad Akhtar, ADB's Director General for Southeast Asia, as saying in a statement.
"The Government's comprehensive agenda addresses issues of ownership, industry structure, competition, pricing, and regulation," she said. "We are seeing progress in each of these areas. The ADB is keen to work closely with the Government and other development partners to facilitate the process, which is essential if the country is to meet its broader development objectives."
The Philippines is among the first of the ADB's developing member countries to implement privatization of generation assets, the entry into concessionaire agreements for the operation of transmission assets, and the introduction of a wholesale electricity spot market.
"This is an ambitious and complex task given the prevailing economic environment," Akhtar said. "It requires close coordination, spreading over a relatively long period of time, on the legislative, regulatory, and policy measures."
The ADB has provided a number of loans for Philippine generation and transmission projects, as well as for the Government's power sector restructuring program, and technical assistance grants for energy agencies.
At a meeting, Philippine Energy Secretary Vincent Perez confirmed the government's commitment to pursuing reforms in the power sector, as mandated under the Electric Power Industry ReformAct (2001).
He emphasized that reforms now have added urgency due to the growing burden that National Power Corporation's financial losses place on the national budget. Enditem　
posted by philpower @ 8:48 AM,
