PSALM provides financial aid to oil spill victims

MANILA, Philippines - The Power Sector Assets and Liabilities Management Corp. (PSALM), the government corporation tasked to handle state-owned power assets and manage the liabilities of National Power Corp. (Napocor), has provided financial assistance to families affected by the oil spill in Iloilo.

The oil spill occurred when Super Typhoon Yolanda ripped through Central Visayas and damaged PSALM’s Power Barge (PB) 103.

PSALM gave P1.5 million to the provincial government of Iloilo for the families who were forced to evacuate as a result of the oil spill.

It also provided P500,000 to the municipal government of Estancia through Mayor Rene Cordero for the affected families living near the area where PB 103 ran aground.

PSALM said it was exerting all efforts to fully contain the oil spill in Estancia town even as some sectors questioned the capability of the company tapped to clean the spill.

PB 103 is a 32-megawatt barge owned by PSALM and operated by Napocor.

PSALM also tapped the spill booms of PBs 101 and 102 to help prevent the spilled oil from drifting away.

PSALM, meanwhile, awarded the P87.2-million contract to clean the oil spill to Kuan Yu Global Technologies Inc., which will siphon and transfer usable fuel oil from PB 103 to barges 101 and 102 as well as clean the affected shoreline and dispose and treat the waste oil and debris.