PSALM wants to keep 116 Napocor paintings
Power Sector Assets and Liabilities Management Corp., the government agency in charge of selling the assets of National Power Corp., has not included some 116 artworks in its privatization list.
PSALM president Lourdes Alzona said the paintings “will still have to be appraised and may just be placed in a museum.”
“We have not included [the paintings] in the privatization list this year and next year,” Alzona said.
An inventory conducted by PSALM in 2011 revealed that 116 artworks comprised the entire collection, with 60 paintings classified as done by professional artists, 55 by amateur artists and one was unclassified due to unavailability of information.
The paintings were acquired from 1974 until the late 1980s. It included the works of professional artists like Jess Dizon’s oil painting “Maria Makiling,” which was acquired in 1982 for P23,000; Manuel Baldemor’s oil painting “Pistang Bayan” bought in May 1980 for P17,500; and Juvenal Sanso’s acrylic painting “Floral Series,” which was purchased in 1987 for P17,250.
It also included two abstract oil paintings of Romula Olazo, which were acquired in 1988 for P30,000 each.
PSALM has assumed ownership of the artwork collection on from Napocor’s asset and debt in October 2008.
PSALM manages the assets and liabilities of Napocor as mandated under the Electric Power Industry Reform Act of 2001. Alena Mae S. Flores