MindaNews » MINDA against privatization of profitable Agus-Pulangi hydro plants.

By Froilan Gallardo
May 16, 2012

CAGAYAN DE ORO CITY (MindaNews/15 May) – The Mindanao Development Authority (MINDA), as expressed by its head, wants the hydroelectric plants along the Agus River in Lanao and Pulangi River in Bukidnon to be in government hands because, contrary to claims by some quarters, these are profitable.

Secretary Luwalhati Antonino, who heads MINDA, said she presented the four-page executive summary detailing the profitability of the hydro plants – to the tune of P68 billion over a 10-year period – to President Benigno Aquino III on Monday.

“We can operate them profitably and even allot a P200-million annual budget to protect the watersheds around the hydro plants,” Antonino told reporters during a break in today’s presentation of the Mindanao 2020 Peace and Development Framework.

“Privatization is out of the question. Agus and Pulangi hydro plants should remain in government hands,” she stressed.

Citing figures they recently obtained from the Power Sector Assets and Liabilities Management (PSALM), Antonino said the net income of Agus and Pulangi hydro plants from 2001 to 2011 was P68 billion.

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