Beneco MCOs receive share certificates; execs in power
>> Sunday, March 6, 2022
‘Other camp’ hit for ‘misleading’ MCOs
BAGUIO CITY --“At long
last, we are now owners of Beneco in the truest sense of the word.”
This was the chorus of member consumer owners (MCOs) of the Benguet Electric Cooperative (Beneco) who trooped to the cooperative’s office at South Drive, Baguio City on Feb. 24 to claim their share capital certificates.
The issuance of the certificates is a first in the history of Beneco after the MCOs decided that the cooperative will register as a stock cooperative with the Cooperative Development Authority (CDA), years after Beneco remained as a non-stock and non-profit entity under the National Electrification Administration (NEA).
This was the chorus of member consumer owners (MCOs) of the Benguet Electric Cooperative (Beneco) who trooped to the cooperative’s office at South Drive, Baguio City on Feb. 24 to claim their share capital certificates.
The issuance of the certificates is a first in the history of Beneco after the MCOs decided that the cooperative will register as a stock cooperative with the Cooperative Development Authority (CDA), years after Beneco remained as a non-stock and non-profit entity under the National Electrification Administration (NEA).
The distribution
of the share certificates followed the electric cooperative’s denouncement of
an intended MCO assembly called by the camp of lawyer Ana Maria Paz Rafael at
the Benguet State University (BSU) in La Trinidad, Benguet on March 3.
In an advisory, board chairperson Atty, Somngi said that Beneco has not called for any assembly of MCOs in the said venue and tagged the move as an attempt to further confuse and mislead the MCOs.
“Our MCOs should not attend any of such gathering since the only body that can call for an assembly are the officers based in South Drive,” he said.
The cooperative is still on the thick of an impasse on who should sit as the general manager following the NEA’s decision to name Rafael, a former Presidential Communications Operations Office (PCOO) official, as GM despite the decision of the Somngi led board of directors to name Melchor Licoben, an engineer, to be the GM.
The cooperative was supposed to conduct a special membership assembly on Feb. 12 to discuss pressing matters about cooperative affairs but the event was stopped by a temporary restraining order (TRO) issued by the city’s regional trial court.
Enrique Moresto, Rocky Aliping, Luke Gomeyac and James Aclopen, former directors of the board, filed an injunction case against Somngi and company and sought for a TRO against the Feb. 12 assembly.
The four were expelled by the MCOs during Beneco’s Annual General Membership Assembly (AGMA) in Oct. 2 last year.
The court restrained special meeting, however, pushed through when MCO leaders decided to conduct a grand information, education and communication (IEC) campaign for all the more than 7,000 MCOs who have registered physically and on line for the event.
The board of directors and management officials did not preside over or attend the assembly due to the TRO but the EC MCO United, a newly registered MCO group, turned the meeting into a massive convention that dwelt on consumer empowerment and importance of paying the share capital.
As of date, more than 19,000 MCOS have paid a total of P13 million in share subscription. Around 300 of these MCOs received their share capital certificate on Feb. 24 even as Beneco officials said that the MCOs who were not able to visit the electric cooperative on the said date can come and claim their share certificate anytime.
“We are happy that Beneco is now a real cooperative,” said Agustina Cayatoc, a teacher who resides at Pacdal, Baguio City.
In an advisory, board chairperson Atty, Somngi said that Beneco has not called for any assembly of MCOs in the said venue and tagged the move as an attempt to further confuse and mislead the MCOs.
“Our MCOs should not attend any of such gathering since the only body that can call for an assembly are the officers based in South Drive,” he said.
The cooperative is still on the thick of an impasse on who should sit as the general manager following the NEA’s decision to name Rafael, a former Presidential Communications Operations Office (PCOO) official, as GM despite the decision of the Somngi led board of directors to name Melchor Licoben, an engineer, to be the GM.
The cooperative was supposed to conduct a special membership assembly on Feb. 12 to discuss pressing matters about cooperative affairs but the event was stopped by a temporary restraining order (TRO) issued by the city’s regional trial court.
Enrique Moresto, Rocky Aliping, Luke Gomeyac and James Aclopen, former directors of the board, filed an injunction case against Somngi and company and sought for a TRO against the Feb. 12 assembly.
The four were expelled by the MCOs during Beneco’s Annual General Membership Assembly (AGMA) in Oct. 2 last year.
The court restrained special meeting, however, pushed through when MCO leaders decided to conduct a grand information, education and communication (IEC) campaign for all the more than 7,000 MCOs who have registered physically and on line for the event.
The board of directors and management officials did not preside over or attend the assembly due to the TRO but the EC MCO United, a newly registered MCO group, turned the meeting into a massive convention that dwelt on consumer empowerment and importance of paying the share capital.
As of date, more than 19,000 MCOS have paid a total of P13 million in share subscription. Around 300 of these MCOs received their share capital certificate on Feb. 24 even as Beneco officials said that the MCOs who were not able to visit the electric cooperative on the said date can come and claim their share certificate anytime.
“We are happy that Beneco is now a real cooperative,” said Agustina Cayatoc, a teacher who resides at Pacdal, Baguio City.
“I am proud that I am one of those who received
a certificate of share capital.”
Under the cooperative law (Republic Act 9520), cooperatives are required to issue share certificates to MCOs who have paid the required minimum share. The certificates are proofs of the consumers’ ownership of shares.
Most of the MCOs who went home with their share certificates paid the P500 required minimum share. -- DC
Under the cooperative law (Republic Act 9520), cooperatives are required to issue share certificates to MCOs who have paid the required minimum share. The certificates are proofs of the consumers’ ownership of shares.
Most of the MCOs who went home with their share certificates paid the P500 required minimum share. -- DC
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