MORE POWER Prexy Welcomes Removal of VAT on Systems Loss, Meanwhile DOE Secretary Garin says Power Generation at Fault On Visayas Power Woes
MORE Power President and CEO Mr. Roel Castro is finally seeing some positive development amidst the power crisis affecting the country. With the recent pronouncement by the Bureau of Internal Revenue removing the VAT on systems loss, Castro welcomes this move even if it is just a portion of a percentage comprising the entire monthly bills of consumers. "This is a welcome move by the government especially by the Bureau of Internal Revenue by removing the VAT on system loss. We have to understand, this is a certain percentage of a certain percentage. We have to be thankful that goverment acted on this quickly so consumers can realize the reduction as soon as possible,” says Castro. But the systems loss is just a small chunk of the problem by the power industry. The daily monitoring of the National Grid Corporation of the Philippines shows a decline in power supply from the power generators. Continuous lack of power supply would still result to higher power generation cos...