Pangasinan board seeks inquiry on power coop’s finances, operations

By: Elsha Marie B. Soriano, PIA 1, Pangasinan

LINGAYEN, Pangasinan – Pangasinan officials have urged the National Electrification Administration (NEA) and the Cooperative Development Authority (CDA) to look into Pangasinan Electric Cooperative’s (Panelco III) operations and financial status after the coop was embroiled in a multi-million peso tax liability.

In a resolution, provincial board members expressed the fear that Panelco’s tax obligation with the Bureau of Internal Revenue will hamper its services with power consumers.

The Court of Tax Appeals recently issued a final and executory order allowing the BIR to garnish Panelco’s assets to cover its accumulated tax liability of P400 million.

PANELCO III serves 18 towns including Urdaneta city with some 150,000 consumers from Pangasinan’s third, fifth and sixth districts.

Authored by board members Alfonso Bince, Jr., Ranjit Shahani and Danilo Uy, the provincial resolution expressed an urgent need by the NEA and CDA to conduct thorough investigations and audit on the coop’s management and financial operations to prevent a possible deterioration of its service to its consumers.

β€œThe Sangguniang Panlalawigan is apprehensive that the financial problem of Panelco III with BIR will seriously affect the delivery of its services to its clientele-consumer,” the resolution said.

Meanwhile, Engr. Allan Casem, Panelco officer-in-charge, assured the board during the question hour held on October 13 that the cooperative will continue to serve its consumers while it settles its tax delinquencies with the BIR.#