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Iloilo to auction P90M PECO assets with unpaid property taxes

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BW/ERSSANTIAGUDO

THE ILOILO City government is putting up for auction today, Nov. 12, the assets of Panay Electric Co. (PECO), which have unpaid real estate taxes for two years. Mayor Jerry P. Treñas on Monday said the City Treasurer’s Office will proceed with the sale of the assets valued at P90 million. “I was told that this real property tax has been pending for the past two years and, well I think it’s about time that this has to be finally resolved,” he said in an interview. Norman F. Tabud, head of the City Business Permits and Licensing Office (BPLO), earlier said they have not issued a permit to PECO due to the outstanding taxes. Last March 12, the BPLO issued a notice of violation against PECO following a memorandum from the City Treasurer’s Office over the tax due. Mr. Tabud said PECO replied and manifested that they have been paying their business licensing fees to the court. The mayor said PECO has offered a settlement, but the amount was not accepted by the city government. He added that PECO, which is currently engaged in another legal battle over the expropriation of its assets by the new distribution franchise holder MORE Electric and Power Corp., is not being singled out as the properties of delinquent tax payers will also be auctioned off. PECO has yet to issue a statement as of this writing. — Emme Rose S. Santiagudo





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