h1

Multi-billion-peso reimbursement eyed for Guimaras rehab

November 1, 2006

By Philip Tubeza
Inquirer, Nov. 01, 2006

THE Philippine government will seek reimbursement from the International Oil Pollution Compensation (IOPC) Fund “and other appropriate sources’’ for its expenses in the Guimaras oil spill cleanup, a ranking House member said on Wednesday.

Camarines Sur Reresentative Luis Villafuerte said Congress inserted in the 2006 supplemental budget a provision requiring the budget and finance departments and the National Disaster Coordinating Council to seek repayment from the IOPC Fund for all spending, including aid to victims, related to the oil spill.

Villafuerte, chairman of the House committee on fisheries and aquatic resources, said Congress initially provided a total of P1.35 billion for the cleanup and rehabilitation of all areas affected by the disaster.

Established in 1992, the IOPC Fund is part of a global regime of liability and compensation for oil spill damage.

“Under the system, the owner of a tanker and its insurer are liable up to a certain amount for damage following a spill. If this amount does not cover all claims, the IOPC Fund may provide additional compensation,’’ Villafuerte said.

“The IOPC Fund is backed by levies on certain types of oil carried by sea. The levies are paid by entities that receive oil after sea transport,’’ he added.

(For the full story, click Reimbursement.)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: