The Binga dam is one of the public assets the provincial government plans to sell off this year to pay the government’s US$14.2B debt. The governor of the province gave Napocor and the Aboitiz-owned Luzon Hydroelectric Corp. 30 days from 23 December 2003, to settle the franchise taxes owed to the provincial government.
Napocor owes Benguet over US$220,000 in franchise taxes for 2001–2003 arising from the operation of Binga dam. The Aboitiz firm owes the province US$110,000 also in franchise tax for 2002 and 2003.
