LEGAZPI CITY: From nearly P4 billion four years ago, the financial nightmare confronting the Albay Electric Cooperative (Aleco) has already ballooned to P6.9 billion as of this month, according to a lawyer serving as legal counsel to the troubled local power distribution cooperative.
Lawyer Oliver Olaybal on Wednesday told the Philippines News Agency here that Php3.6 billion of this amount was incurred by the cooperative when its management was under the National Electrification Administration (NEA) from 2007 to Feb. 10, 2011.
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