MANILA, Philippines — To avert the planned auction of the Pagbilao coal power plant in Quezon, President Aquino has issued Executive Order No. 27 imposing fines, penalties and interests on independent power producers in the province that have failed to pay real property taxes.
Under the EO dated Feb. 28, the President warned that forcing power producers to pay back taxes on real property will result in “colossal economic losses across all sectors.”
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