Philippine Transco sale fails

16 July 2003 – The plan by the Philippine government to privatize its National Transmission Company has been unsuccessful after just one pre-qualification proposal bid was received by the deadline.

The procedures for the sale determined that the sale would be halted if only one party submits a pre-qualification proposal. The government has said it will hold a second round of bidding

The Transmission company holds the power transmission assets of state utility National Power Corporation which itself is up for privatization. The Power Sector Assets and Liabilities Management Corporation will publish invitations for potential bidders to submit their proposals by Aug. 22., said the Perez administration.