Government to Subsidize Electricity Costs for Companies in Mindanao Economic Zones

The Philippine Economic Zone Authority (PEZA) said it would come up with a memorandum of agreement with the Department of Energy (DOE) to bring down the cost of electricity in industries operating in various economic zones in Mindanao. It added that the government would subsidize Mindanao economic zones power rates to cost only P2.75 per kilowatt-hour. The move is intended to entice more investors to  Mindanao, the…

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