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PSALM in new round of compensation payouts

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THE Power Sector Assets and Liabilities Management Corp. (PSALM) resumed its distribution of compensation checks to individuals, families, and enterprises that were affected by the power barge 103 oil spill at the height of Super Typhoon Yolanda.

In a statement, PSALM said the new round of payouts took place on April 11.

The 32-megawatt PB 103 was moored at Barangay Botongon in Estancia, Iloilo when it ran aground due to strong winds and a storm surge on Nov. 8, 2013.

It said 23 of the 26 beneficiaries, hailing mostly from Barangays Botongon and Poblacion Zone I, form part of the sixth and latest batch of claimants where PSALM paid a total of P340,428 worth of indemnities. Beneficiaries who were not yet able to claim their checks may approach with the agency to arrange payouts.

PSALM’s settlement of third-party claims is based on the recommendation of the Government Service Insurance System (GSIS) adjuster, Claims Services International Adjusting Co., and the endorsement of GSIS.

It said to date, a total of P7,798,175 has been settled and released to the first to sixth batch of claimants.

Immediately after the incident, PSALM provided financial aid amounting to P2 million to Iloilo families affected by the oil spill through the provincial and municipal government. — Victor V. Saulon

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