ILOILO CITY ---- After failing to renew its distribution franchise, Iloilo City's power distributor may lose some of its assets for purportedly failing to pay real property taxes (RPT). City Mayor Jerry Treas said some of the assets of Panay Electric Company (PECO) were among the properties set for auction on December 12 for being delinquent in payment of their RPT estimated at P90 million. "(PECO's real property taxes) have been pending for the past two years. The taxes cover those levied on PECO's electric poles planted on the properties of the city government. Trenas said the city government gave PECO time to settle the payables but the company offered an amount unacceptab...
Keep on reading: Iloilo power firm seen to lose some assets
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