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 MECO’s 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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