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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 169 - ASSIGNING
THE POWER SECTOR ASSETS AND LIABILITIES MANAGEMENT CORPORATION AS AN
ATTACHED AGENCY OF THE DEPARTMENT OF ENERGY
WHEREAS,
Republic Act No. 9136, otherwise known as “Electric Power Industry
Reform Act of 2001” (“EPIRA”) provides a framework for the
restructuring of the electric power industry, including the
privatization of the assets of the National Power Corporation (NPC),
the transition to the desired competitive structure, and the definition
of the responsibilities of the various government agencies and private
entities;
WHEREAS, Sec. 49 of the EPIRA created the Power Sector Assets and
Liabilities Management Corporation (PSALM Corporation), a
government-owned and controlled corporation, to take ownership of all
existing NPC generation assets, liabilities, IPP contracts, real estate
and all other disposable assets, and pursuant to Sec. 50 thereof, to
manage the orderly sale, disposition, and privatization of these NPC
assets with the objective of liquidating all NPC financial obligations
and stranded contract costs in an optimal manner;
WHEREAS, by virtue of the transfer of NPC assets to PSALM Corporation
and the assumption of liabilities of NPC, an attached government-owned
and controlled corporation of the Department of Energy (DOE), PSALM
Corporation, by operation of law, becomes a successor-in-interest of
NPC;
WHEREAS, considering that the EPIRA is silent on the assignment of
PSALM Corporation as an attached agency of an appropriate line
Department of the Executive Branch for policy and program coordination
and general supervision, the President of the Philippines shall, by
executive order, assign offices and agencies not otherwise assigned by
law to any department, or indicate to which department a government
corporation or board may be attached pursuant to Sec. 5, Chapter 1,
Book IV of the Revised Administrative Code of 1987;
WHEREAS, the role and functions of the PSALM Corporation, as mandated
by R.A. 9136, are closely allied with the role and function of the
Department of Energy (DOE), as mandated by Sec. 37 thereof, and
DOE’s exercise of its supervision and control over all government
activities relative to energy projects in order to attain the goals
embodied in energy policy of the State under Sec. 2 of R.A. 7638
(DOE Act of 1992).
NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the
Philippines, by virtue of the power vested in me by law, do hereby
order:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Done in the City of Manila,
this 16th day of January, in the year of Our Lord, Two Thousand and
Three.
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Since 19.07.98.