MANILA, Philippines — The state-run Power Sector Assets and Liabilities Management Corp. (PSALM) has been recognized as one of the top-ranking government-owned and controlled corporations (GOCCs) for its performance scorecard in 2022.
PSALM was able to attain a perfect 100 percent rating, putting it among the top 10 GOCCs evaluated by the the Governance Commission for GOCCs (GCG).
PSALM said that it was the only GOCC under the energy and materials sector to receive the award.
The performance evaluation system (PES) of the GCG is the process of appraising the accomplishments of GOCCs in a given fiscal year based on a set of performance criteria, targets, and weights reported in a performance scorecard.
PSALM said its exceptional scorecard performance is a testament to its commitment to attaining overall organizational target and aligning with the government’s policy direction.
Being a top-ranking GOCC in the GCG performance scorecard demonstrates the corporation’s unwavering dedication to excellence in all aspects of its operations.
“We are honored to be recognized as a top-ranking GOCC in the GCG Performance Scorecard,” PSALM president and CEO Dennis Edward dela Serna.
“This recognition is a reflection of the hard work and dedication of our employees, who are committed to making PSALM Corp. a frontrunner in establishing an unparalleled performance in the government,” he said.
Under Republic Act 9136 or the Electric Power Industry Reform Act of 2001, PSALM is mandated to privatize all transferred assets from the National Power Corp. with the objective of liquidating all of the latter’s financial obligations.
PSALM has so far privatized 45 generation assets equivalent to 9,026.68 megawatts, achieving 82 percent privatization level.
A total of 1,761 real estate lots equivalent to 1,060 hectares have likewise been disposed.