Baloi town wants P1 million share of the national wealth from NPC

By Nora Sorino, Iligan City Bureau Chief
and Sita Asequia, Correspondent .

municipality of Baloi, Lanao del Norte has expressed its desire to get P1 million share of the national wealth from the National Power Corporation which is held in escrow in a bank.

Councilor Noli Pardillo said that this was what Baloi Sangguniang members relayed to them even as a joint session was scheduled late this month of November.

The Philippine National Bank has held in escrow over P500 million as share of the national wealth from the National Power Corporation arising from the company’s Agus 5 hydro power plant.

This is because of the boundary dispute between Iligan City and the province of Lanao Norte.

Both local government units claim that said power plant is within their territory; hence the share should go to them.

But Baloi, the site of said plant claims that P1 million should go to them being the specific place where the plant stands and the over P400 million be shared between the province and the city.

The joint session scheduled Nov. 23, between the city and the Sangguniang Panlalawigan was postponed to a later date although it was learned that it should be within this month or early next month.