Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

Lotilla’s nomination as Energy chief lawful — DoJ 

by
July 14, 2022
in Investing News
0
Lotilla’s nomination as Energy chief lawful — DoJ 
0
SHARES
16
VIEWS
Share on FacebookShare on Twitter

THE DEPARTMENT of Justice (DoJ) on Thursday said the nomination of Raphael P.M. Lotilla as Energy secretary does not violate a legal provision concerning private sector affiliation.   

In a statement, the DoJ said it believes that the nomination is “valid and lawful,” citing that his position as independent director in two private companies does not fall within the proscription of Section 8 of the Department of Energy Act of 1992.   

Under the law, an officer, external auditor, accountant, or legal counsel of any private company or enterprise primarily engaged in the energy industry could not be appointed as Energy secretary within two years from the end of engagement.   

Mr. Lotilla had been an independent director of Aboitiz Power Corp. and ACE Enexor, Inc.  

The DoJ said subsequent laws on corporations as well as the two companies’ by-laws do not consider an independent director as an officer by functions and responsibilities.  

President Ferdinand R. Marcos, Jr. named Mr. Lotilla as the next Energy chief on Tuesday.   

He previously served as head of the DoE under former President Gloria Macapagal-Arroyo from 2005 to 2007. He was also president of the state-run Power Sector Assets and Liabilities Management Corp. 

Mr. Marcos earlier said the role of the next Energy Secretary will be crucial as the Philippines continuously faces surging fuel and energy prices. — John Victor D. Ordoñez 

ShareTweetPin

Related Posts

Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case
Investing News

Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case

August 23, 2022
ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts
Investing News

ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts

August 23, 2022
Malaysian trade official urges PHL to sign up for RCEP  
Investing News

Malaysian trade official urges PHL to sign up for RCEP  

August 23, 2022
Next Post
Marcos orders fast-tracking of national ID printing, distribution 

Marcos orders fast-tracking of national ID printing, distribution 

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Light battery for fisherfolk has potential to treat wastewater

Light battery for fisherfolk has potential to treat wastewater

August 12, 2022
BSP to keep hawkish stance for rest of 2022

BSP to keep hawkish stance for rest of 2022

August 17, 2022
Tulfo threatens to summon officials of inefficient power co-ops before Senate Energy Committee

Tulfo threatens to summon officials of inefficient power co-ops before Senate Energy Committee

August 3, 2022
Philippines among most exposed to price shocks in food, Moody’s says

Philippines among most exposed to price shocks in food, Moody’s says

July 19, 2022
Government debt yields rise on surprise hike

Government debt yields rise on surprise hike

July 17, 2022
MREIT earnings hit P677M on higher occupancy rates

MREIT earnings hit P677M on higher occupancy rates

August 7, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.