The Iloilo City Government will give a partial payment of P 10 million to Panay Electric Company (PECO) representing its overdue electricity bill since July, with the promise that it will settle the balance on January 2013.

The money was taken from the General Fund under Supplement Budget No. 9 amounting to P 99.2-million which was approved by the Sangguniang Panlungsod (SP) last Dec. 5, 2012 after PECO told the city government to pay its debt before the year ends.

Engr. Randy Pastolero, PECO vice president for operations and special assistant to the president, said the payment is being processed.

“We expect to receive the payment by end of this week. The amount for the partial payment is already good enough for us. We understand that they are running out of funds this year but they promised to pay us in full next month,” he said.

Pastolero said he hopes the city government will stick to its word.

The City Treasurer’s Office has confirmed that the city government owes PECO because of insufficient funds.

Assistant City Treasurer Carol Dequilla said the city government pays more than P 8 million every month for its electricity consumption and their past due account has reached P 48 million.*