BAYOMBONG, Nueva Vizcaya: A government-owned and -controlled corporation (GOCC) has appealed to the Provincial Local Government Unit of Nueva Vizcaya (PLGU-NV) to condone its obligation amounting to more than P111 million in accumulated penalties and surcharges for its failure to pay in time more than P153.84 million in transfer tax to the province.

In a letter addressed to Gov. Jose 'Jing' Gambito, Power Sector Assets and Liabilities Management Corp. (Psalm) President and Chief Executive Officer Dennis Edward dela Cerna requested the cooperation of PLGU-NV in negotiating the condonation of the penalties and surcharges associated with said transfer taxes.