PLDT Inc. is expected to earmark lower capital expenditure (capex) this year compared to last year, according to PLDT chairman, president and chief executive officer (CEO) Manuel Pangilinan.
In 2023, PLDT allocated between P80 billion to P85 billion for its capex, bulk of which was set aside for network expansion. This year, it will likely be lower.
“In terms of fresh capex, most likely, yes, it will be lower this year compared to last year. We are getting a better idea of what is the carry-over capex from the issues related to 2022. It is likely to be overall lower than in 2023,” Pangilinan said in a PLDT Global and Overseas Workers Welfare Administration (OWWA) event.
PLDT, through its international unit PLDT Global, has launched a new service that enables overseas Filipino workers (OFW) to access the OWWA Helpline 1348 for free via TINBO (Tindahan ni Bossing), the one-stop online marketplace for global Filipinos.
Meanwhile, Pangilinan said the PLDT Group has started the search for the new president and CEO, and is hopeful to find the right person by yearend.
“We just started. It is ongoing now, it is a bit new. Too early to say who the candidates could be at this stage. Hopefully, before the year ends, we can find the right person,” he said.
Last December, Alfredo Panlilio stepped down as PLDT and Smart Communications Inc. president and chief executive officer due to health reasons.
With this, the PLDT board reappointed Pangilinan as president and CEO effective January 1, 2024, concurrent to his role as the chairman.
