|
|
Article: Napocor to spend P14.57 B this year on interest payments.(Business)
- Article from:
- Manila Bulletin
- Article date:
- May 12, 2000
- Author:
CopyrightCOPYRIGHT 2000 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
State-owned National Power Corporation (NPC) will be spending P14.57 billion as interest payments this year for its outstanding loans now reaching almost $6 billion dollars.
The power firm's budget for interest payments was the third highest allocation included in its appropriations this year as approved under the General Appropriations Act. NPC's total budget was placed at P135.43 billion.
It was noted that after NPC's privatization, the government would be relieved slightly of huge allocations for interest payments, especially if some of its generation contracts would be privatized.
The largest chunk, amounting to P88.29 billion will go to its ...