The Power Sector Assets and Liabilities Management Corp. is concerned that the delay in the bidding of the Palinpinon and Panay power plants will affect its target of 50 percent privatization in 2007, its vice president, Froilan Tampinco, said.

Tampinco said the Geothermal Resources Supply Contract to be attached to the sale of Palinpinon has not been discussed by the Joint Congressional Power Commission.

We cannot effect the sale without the GRSC that needs JCPC approval, he said.

Tan wins back bank from gov't,
looks at merger of PNB, Allied

MANILA – Of all the cronies of the late Philippine dictator Ferdinand Marcos, Chinese-born tycoon Lucio Tan stands out as one of the most durable -- and for that reason remarkable.

In the two decades since Marcos fled into exile following the so-called People Power revolt in 1986, Tan has expanded a formidable empire in tobacco, beer, aviation and banking.

This makes Tan different from many associated with the Marcos era, whose empires faded away while his flourished.

Anti-smuggling measures
filed in Congress

A bill seeking to provide for the disposition of smuggled agricultural products was filed by Bacolod Rep. Monico Puentevella, a press release from Congress said.

House Bill 485 provides that any forfeited agricultural product should be transferred to the national government agency concerned within 15 days from the time of forfeiture has become final and executory, the press release said.

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