Ex-PSALM chief wants name cleared | Inquirer Business

Ex-PSALM chief wants name cleared

/ 05:44 AM August 06, 2015

Former Power Sector Assets and Liabilities Management Corp. (PSALM) president and chief executive Emmanuel Ledesma said he wants to be cleared of accusations hurled against him.

In a letter addressed to President Aquino last July 31, Ledesma formally tendered his resignation and said his experiences in the state firm gave him “priceless lessons.”


“However, in the past months, I have been subjected to an orchestrated effort… I sincerely believe [these accusations are] without basis,” he said.

He said his resignation will also spare the Aquino administration of the impact of such accusations.


He did not specify what those issues were.

Ledesma was suspended back in May allegedly due to changes in the procurement contract for the rehabilitation of the Agus hydropower plant.

In an acknowledgment letter dated Aug. 3, Executive Secretary Paquito N. Ochoa told Ledesma: “With much regret we accept your resignation and herewith convey to you our sincere appreciation for your graceful act of self-sacrifice for the greater interest of PSALM and this Administration. Please rest assured that you continue to enjoy the respect of His Excellency Benigno Simeon C. Aquino III and his family.”

PSALM officer in charge Lourdes Alzona was formally named chief executive last July 31.–Riza T. Olchondra

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TAGS: Emmanuel Ledesma, PSALM, resignation
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