PNOC Group remits P7-B for Covid-19 fund

PNOC Group remits P7-B for Covid-19 fund Mindanao News

Department of Energy (DOE) Secretary Alfonso G. Cusi. PNA

DAVAO CITY – With the Enhanced Community Quarantine (ECQ) imposed in the entire Luzon and other parts of the country due to the Coronavirus Disease 2019 (Covid-19), the Philippine National Oil Company (PNOC) Group of Companies heeded the call of Pres. Rodrigo R. Duterte and remitted a total of PHP7 billion to the National Treasury to help fund the program of the national government under the “Bayanihan to Heal as One Act”.

The parent company’s Board of Directors, in a special meeting before the Holy Week break, approved the recommendation of the management under its President and CEO, retired Admiral Reuben S. Lista (former Commandant of the Philippine Coast Guard), to remit PHP billion of its accumulated retained earnings. Its exploration subsidiary under its newly-appointed head retired Lt. Gen. Rozzano D. Briguez, former Commanding General of the Philippine Air Force, also put up PHP2 billion of the total contributed fund. Department of Energy (DOE) Secretary Alfonso G. Cusi commended