Palace defends allies from China's accusations of intervening in sea row

MANILA, Philippines - The Philippine government defended its allies Monday from accusations made by China that they are intervening in the West Philippine Sea dispute.

At a press briefing, Presidential Spokesman Edwin Lacierda said the United States, Australia and Japan have interests in the disputed areas to protect freedom of navigation.

“A big percentage of world’s trade passes through our waters, the waters that is a subject of dispute right now. Do they have an interest? Yes they have an interest because of freedom of navigation,” Lacierda said.

China on Monday asked the three nations to refrain from dipping their hands into the disputes in the East China Sea and South China Sea.

The US, Australia and Japan issued a joint statement opposing the "coercive or unilateral actions" in maritime disputes during a trilateral strategic dialogue at the Asia Pacific Economic Conference in Bali, Indonesia.

China and Japan are in a long-standing row over uninhabited islands in the East China Sea. China is also in a territorial dispute with Vietnam, the Philippines, Taiwan, Malaysia and Brunei over the Spratly Islands.

source: interaksyon.com

Explain why bogus NGOs continued to receive pork barrel even under PNoy's term, DBM told

Budget Secretary Florencio Abad should explain why fake non-government organizations continued to receive public funds even during the time of President Benigno Aquino III since 2010, the United Nationalist Alliance (UNA) said.

"If indeed the release of PDAF (Priority Development Assistance Fund) since 2010 have been judicious and strictly regulated, why then are there documented releases to fake NGOs through the GOCCs (government owned and controlled corporation), amounting to more than P500 million?” Navotas Representative and UNA secretary general Toby Tiangco said.

Quoting from documents obtained from the Philippine Forest Corporation, National Agribusiness Corporation, Department of Agriculture and the Department of Environment of Natural Resources, Tiangco said that some P500 million PDAF was released to fake NGOs between 2010 and 2012.

The P500 million released by the Department of Budget and Management in the last three years was different and separate from the more than P1 billion given between 2010 and 2012 to foundations and corporations under businesswoman Janet Lim Napoles.

Tiangco also said that Abad cannot just claim innocence on the multi-billion peso releases to the 82 questionable NGOs identified by the Commission on Audit until 2012.

“Based on records, these 82 NGOs under question still continue to receive millions upon millions from DBM through the implementing agencies. What happened to the restrictions on the pork barrel releases the DBM has been saying—bakit marami pa ring nakakalusot since 2010?” he asked.

Meanwhile, Tiangco criticized the Aquino administration for its "very special treatment" to Napoles since she turned herself in on Thursday..“It’s not special treatment. It’s concierge service,” he said.

source: interaksyon.com

Ateneo HR Center 'disappointed' with 'insensitive' govt handling of Sabah row

MANILA, Philippines -- The human rights center of President Benigno Aquino III’s alma mater on Saturday voiced its “disappointment” over what it said was the “insensitivity” and “impaired knowledge” with which the government has handled the continuing problem in Sabah.

At the same time, the Ateneo Human Rights Center urged Aquino, in a statement, to “take the appropriate actions to achieve an amicable settlement on the issues surrounding the turmoil in Sabah.”

“From its public demeanor and dismissive statements, it (government) has exhibited an insensitivity to the root cause of the incident and an impaired knowledge of the historical, cultural, political and personal dimensions of the aspirations of our Tausug brothers and sisters in relation to Sabah,” the AHRC said.

It cited Aquino’s call for Sulu Sultan Jamalul Kiram III to order his followers who had occupied a village in Lahad Datu, Sabah to leave and abandon their “hopeless cause” and his threat to use the “full force of the law” if they ignored him.

The AHRC also hinted that Aquino may have been ill advised on handling the Sabah issue, urging him “to get the best possible counsel in relation to this recent tragedy” and adding that, “the threats made by our own Department of Justice towards the Sultan and the members of the Sultanate of Sulu do not solve the problem.”

On Friday, the weeks-long standoff in Lahad Datu between Kiram’s followers, led by his brother Raja Muda Agbimuddin Kiram, and Malaysian security forces erupted in violence.

Malaysia has placed the death toll at 12 Filipinos and two Malaysian police commandos dead. But the sultan’s brother said 10 of his party died, four were wounded and another 10 had been captured.

The AHRC said that, even while disapproving the manner the sultanate had chosen to pursue its claim to Sabah, the government “should have, in the same breath, sympathized and expressed its solidarity with the noble cause and territorial objectives of our Muslim countrymen/women.”

“Indeed,” it said, “the government may have unduly alienated citizens who have hitherto exhibited loyalty to the Philippines.”

Following is the full text of the AHRC statement:

In recent weeks, the Sultanate of Sulu, headed by Sultan Jamalul Kiram III and a group of Tausugs forming part of the Royal Army of Sulu, went to the town of Lahad Datu in Sabah. They asked that the Sultanate receive royalties commensurate to Sabah’s economic growth and that they be allowed to peacefully settle there, which they consider their homeland.

However, in a press conference held on February 26, 2013, President Benigno Aquino III appealed to Sultan Kiram and his supporters to withdraw from Sabah, and peacefully end their standoff. He, unfortunately, referred to their cause as a “hopeless cause.” Further, the President threatened them with prosecution by issuing a stern warning that if they choose not to cooperate, they will face the “full force of the law.”

The Ateneo Human Rights Center (AHRC) expresses its deep concern on what transpired in Lahad Datu, Sabah which escalated into violence resulting in the death of a number of our Muslim countrymen/women. The AHRC likewise expresses its disappointment on the government’s treatment of the problem. From its public demeanor and dismissive statements, it has exhibited an insensitivity to the root cause of the incident and an impaired knowledge of the historical, cultural, political and personal dimensions of the aspirations of our Tausug brothers and sisters in relation to Sabah.

While the Government may have expressed its non-conformity to the manner by which the claim was pursued, it should have, in the same breath, sympathized and expressed its solidarity with the noble cause and territorial objectives of our Muslim countrymen/women. Indeed, the Government may have unduly alienated citizens who have hitherto exhibited loyalty to the Philippines.

While not condoning any form of violence, the Philippine Government should demonstrate that the interests of our Filipino Muslim brothers and sisters involved are its paramount concern; and it has not derogated from its responsibility to protect their human rights.

Therefore, we call on President Benigno Aquino III to take the appropriate actions to achieve an amicable settlement on the issues surrounding the turmoil in Sabah. Also, we urge the government to extend all the possible assistance to our brother/sister Muslims involved in this tragic event. Moreover, we implore the President to get the best possible counsel in relation to this recent tragedy. The threats made by our own Department of Justice towards the Sultan and the members of the Sultanate of Sulu do not solve the problem. President Aquino should assure them that the Government will take the matter seriously in order to arrive at a peaceful solution. The Philippine Government should also guarantee the Sultanate of Sulu that it continues to honor the claim over Sabah, a place which our Tausug brothers and sisters rightfully claim and assert as our own.

source: interaksyon.com

Your share of the national debt: P59,000

MANILA - The Aquino administration added nearly a tenth to the national government's outstanding debt last year.

According to the Bureau of Treasury, the government's debt stock rose 9.8 percent to P5.437 trillion in 2012 from the P4.951 trillion the previous year.

This debt is usually settled by new financing, but ultimately the taxpayer foots the bill. Given a population of 92.34 million, each Filipino then is in hock for P58,880.22.

The increase was brought about largely by a 20.7 percent jump in the government's borrowings from the domestic market. Debt owed to local creditors rose to P3.468 trillion last year from P2.873 trillion in 2011.

Foreign obligations fell 5.3 percent to P1.969 trillion from the previous year's P2.078 trillion.

As a result, 64 percent of the government's debt is owed to local creditors, leaving 36 percent with foreigners.

The debt represents the accumulation of borrowings made through the years, as the government makes up for tax collection shortfalls just so it can push through with programmed expenditures, including infrastructure and other capital outlays, personnel compensation, as well as maintenance and other operating expenses.

The annual revenue shortfall gives rise to the budget deficit, which the government finances through borrowings.

The Department of Finance earlier said the government likely ended 2012 with a budget deficit of P235.3 billion, which is lower than the P279 billion ceiling for the period.

source: interaksyon.com

US envoy says sorry again for Tubbataha fiasco but still no explanation

MANILA, Philippines -- US Ambassador Harry Thomas Jr. again conveyed his country’s apologies for the “unfortunate” grounding of a Navy minesweeper on Tubbatah Reef but still offered no explanation for why the USS Guardian was in the marine protected area.

“On behalf of the United States government, I wish to convey to the Philippine government and people my profound regret over the grounding of the USS Guardian on Tubbataha Reef,” Thomas said in a statement on Friday.

“This was an unfortunate accident, and I recognize the legitimate concerns over the damage caused to a unique and precious wonder of nature, internationally recognized for its beauty and biological diversity,” he said.

The Guardian was sailing from Subic Bay to Indonesia, where it was to participate in an exercise, when it ran into the reef, which has been declared a world heritage site, on January 17.

Authorities estimate that the incident has damaged at least 1,000 square meters of corals.

The US Navy earlier said it has decided to lift the vessel off the reef rather than tow or dismantle it to prevent more damage to the corals. Two cranes from Singapore are expected to arrive in the area by the end of the month.

The incident has caused widespread anger, especially after the office managing Tubbataha disclosed that the Guardian’s captain ignored warnings that the ship was heading into the protected area and the ship’s crew went into battle mode and prevented marine park rangers from approaching.

“As the investigation of this matter proceeds, we hope to continue our close coordination with the Philippine government to understand precisely what happened so we can ensure there will be no recurrence,” Thomas said, adding that the US would “work collaboratively with the Philippines to assess the damage and to take steps to address the environmental issues that have arisen from this incident.”

He thanked the Philippine Coast Guard and Navy “for their close cooperation with us.” (with Abigail Kwok, InterAksyon.com)

source: interaksyon.com

PH Finance Secretary tells Washington confab: Sick Man of Asia on Road to Recovery

Finance Secretary Cesar V. Purisima outlined the steps the Philippine Government took to make the country one of the fastest growing economies in Asia during the Philippine Conference in Washington, D.C. on September 26.

After Secretary Purisima’s presentation, the predominantly American audience was convinced that the ‘sick man of Asia’ is finally on the road to recovery, the Philippine Embassy reported.

In a statement, Ambassador Jose L. Cuisia, Jr. said the presentation of Secretary Purisima at last Wednesday’s Philippine Conference on the positive macroeconomic developments in the country resulting from the Aquino Government’s mantra that “Good Governance is Good Economics” impressed the audience.

“Secretary Purisima did a very excellent job in painting a bright future for the Philippine economy and those who heard him—from officials of the United States government, representatives of think-tanks, executives from big business and members of the media and the academe, both Filipino and American—all agree that the Philippines has taken off,” Ambassador Cuisia said.

In his remarks at the conference sponsored by the Center for Strategic and International Studies and the US-Philippines Society at the Capitol Hilton here, Secretary Purisima said President Aquino’s high approval and trust ratings of 78 percent has given his administration more political capital to pursue structural changes to transform the country.

He said the Aquino Administration has strengthened its resolve to further consolidate fiscal position, maintain macroeconomic stability, improve the investment climate and ease the cost of doing business to transform the Philippines into Asia’s next tiger economy in the next several years and the world’s 16th largest economy by 2050.

“This road to recovery is reflected in the improvements in the Philippines' ranking in governance and competitiveness indicators such as the World Economic Forum and credit rating agencies, which affirm the Aquino Administration's belief that good governance is good economics,” Secretary Purisima said.

“We are rolling up our sleeves and executing these initiatives on day-to-day basis. We are investing in people, technology and processes, and changing the culture of Philippine institutions,” said the finance secretary who also sits as the Governor for the Philippines of the World Bank. “We are headed in a direction where merit will be rewarded.”

Secretary Purisima’s optimism was shared by economists led by US Assistant Treasury Secretary Charles Collyns, who lauded Manila’s efforts in partnering with Washington in innovative programs, such as the Millennium Challenge Account Compact and the Partnership for Growth.

Assistant Secretary Collyns also commended the Philippines for having “graduated with honors” from the International Monetary Fund program to address the balance of payments crisis and for the country’s very strong macroeconomic fundamentals.

“Overall, we are very positive with the Philippines. The country is on the right path, given its strong economic leadership and vibrant democracy,” Assistant Secretary Collyns concluded.

For his part, Stephen Groff, Vice President of Operations of the Asian Development Bank, confirmed a growing sense of optimism about the Philippines, saying it is “one of the fastest growing regional economies.”  He commended the administration’s good macroeconomic management and acknowledged that the “potential for the country is huge.”

Groff encouraged the government to continue working closely with the private sector in identifying priority areas of investments and in setting benchmarks for delivering results. He said the Philippines has “very good plans for budget execution” and recommended the “intensification of investments in Public-Private Partnership projects.”

Jay Collins, Global Co-Head of the Public Sector Group of Citigroup, emphasized that “transparency and good governance is a precursor to investment success” and recognized the Philippines as one of the leading countries in terms of mobile banking and advocacy for financial inclusion.

Pointing to the former American bases at Clark and Subic, Collins predicted that the Philippines will be a major global logistics hub and urged the government to ensure the “connectivity of the tourism sector to other themes in the economy.”

Philippine Foreign Affairs Secretary Albert F. Del Rosario and Justice Secretary Leila M. De Lima also participated in the conference.

source: asianjournal.com

Tributes pour in for late DILG Secretary Jesse Robredo

Tributes poured in on Tuesday for the late Interior Secretary Jesse Robredo after authorities confirmed his death in a plane crash off Masbate.

Transportation Secretary Mar Roxas confirmed on Tuesday morning that the body of Robredo was found at 8:15 a.m. Tuesday, 800 meters from the shore of Masbate.

In a press briefing, Roxas said Robredo’s body was found at a depth of 180 feet inside the fuselage of the small Piper plane that carried him and three others on Saturday.

"Yung unang sumabak na mga tech divers 'yung mga puti na nakita natin kahapon, si Matt at ang kanyang team na dalawang babae. At 8:15, kumpirmado na 'yung isa sa mga katawan ay 'yung kay Sec. Jess Robredo," Roxas said.

Retired archbishop Oscar Cruz called for a hero’s burial for Robredo, whose body was retrieved from the fuselage of the plane.

“Maraming pasasalamat at natagpuan din. (Sana) mabigyan siya ng disenteng paglilibing, sana malagay sa Libingan ng Mga Bayani,” Cruz said in an interview over radio dzBB.

Cruz had lauded Robredo for not abusing his powers and for remaining untainted by corruption.

As Secretary of the Department of Interior and Local Government (DILG), Robredo supervised the Philippine National Police, Bureau of Fire Protection, and Bureau of Jail Management and Penology.

The Supreme Court on Tuesday extended its condolences to the family of Robredo, saying in a statement: "We join the Filipino nation in mourning the passing of Secretary Robredo. We send our condolences to his bereaved family."

The high court acknowledged Robredo's role as an "indispensable partner in judicial reform."

"He was a member of the Justice Sector Coordinating Council and ex officio Chair of the National Police Commission, whose Technical Committee on Crime Prevention and Criminal Justice System includes representation from the Court pillar," the SC said.

Created in April 2010, the JSCC is a joint effort among the SC, the DILG and the Department of Justice, seeking to create a coordinated approach to justice sector policy making, planning, and operations.

Before being appointed as secretary of the DILG in 2010, Robredo served for more than 18 years starting in 1988 as mayor of Camarines Sur's Naga City, which was named by Asiaweek as one of the "Most Improved Cities in Asia" in 1999.

One of PHL's finest servant-leaders

Vice President Jejomar Binay, via Facebook, said: "I offer my deepest condolences to the family of Sec. Robredo. I urge everyone to pray for them, that they trust God’s plan for all of us. They need our wholehearted prayers and support."

Presidential spokesman Edwin Lacierda said with Robredo’s death, the nation lost one of its finest servant-leaders.

“Jesse has passed. The nation has lost one of her finest servant-leaders. Join us in mourning and tribute,” he said on his Twitter account.

Presidential Communications Operations Office Secretary Herminio "Sonny" Coloma Jr. said in a statement: "Secretary Jesse Robredo served our people selflessly and honorably. He was an exemplary public servant, a pathfinder in implementing innovations in governance."

"He inspired all those with whom he worked by dint of his enthusiasm and devotion to duty. Our thoughts and prayers go with his family," Coloma said.

Executive Secretary Paquito Ochoa Jr., in a statement, said: "I join my colleagues in the Cabinet and the whole nation in mourning the passing of Interior Secretary Jesse Robredo and pilots Capt. Jessup Bahinting and Kshitiz Chand."

"Secretary Robredo was a dedicated public servant and a champion of good governance whose track record in public service has been an inspiration to all those who believe in government as an instrument for positive change," Ochoa said.

"Our prayers go out to the families of Secretary Robredo and his companions, as well as to his constituents in Naga and the officials and employees of the Department of the Interior and Local Government, who lost a leader who tirelessly worked and contributed greatly to President Aquino's campaign for good governance as a means to improve the lives of our countrymen," Ochoa added.

Agriculture Secretary Proceso Alcala, via the PTV-4 Facebook account, said: "Napakabait ni Sec. Jesse Robredo. Sincere. Isang totoong tao. Malaking kakulangan sa ating bansa. Napakadali ng communication namin ni Sec. Jesse. Walang cheche bureche kami mag-usap."

Tourism Secretary Ramon Jimenez Jr., via Twitter said: "Lord, may we find inspiration through our grief. Rest in Peace, Sec. Jesse."

Justice Secretary Leila de Lima said, "The loss of Secretary Jesse is such a great loss for the public service. Anyone who had the opportunity to work with him, as I have, would have sensed his dedication, his sincerity and the high regard he placed on his responsibility to the people. He was quite simply, a good man and exemplary public servant."

"I feel his loss on a personal level also, not just because hwas a fellow Bicolano, but also because our respective mandates meant that we have been working closely together over the last two years on various matters, and I know that there are still a lot of things we could have accomplished together," De Lima said.

"I intend to honor him by vowing to carry on what we have started. He truly was "gone too soon." I, on my own behalf and that of the DOJ family, join Sec. Jes's family in grieving his untimely passing. Their loss is the nation's loss. The DOJ family lost a staunch partner and a prime mover in our fight against criminality and impunity," she added.

Sen. Edgardo Angara, via Twitter, said: "We mourn with the nation for the loss of a great public servant, Jesse Robredo. Our condolences to his family and the two pilots' families. RIP."

Senator Franklin Drilon, in a statement said: "Our country is grieving for we have just lost a man who had manifested genuine sincerity to serve his country. Truly, he was one of a kind public servant."

"I was honored to have worked with Secretary Jesse on various projects to advance developments in the LGUs. Also, I salute Secretary Jesse for sharing vision with us and for helping us in crafting sound policies in the Liberal Party where he belonged," Drilon added.

Senator Chiz Escudero, in a statement, said: "The passing of Interior and Local Government Secretary Jesse Robredo is a tremendous loss for the entire nation. He was a stalwart and a pillar of our collective quest for change and good governance."

"I mourn the loss of Secretary Robredo. He embodied everything a Filipino leader should be. He was an honored son of Bicol, a decent and loving husband and father, and a principled man whose honesty and integrity were beyond question," Escudero said.

"My family and I express our deepest condolences to the Secretary's family. I call on Bicolanos, as well as the entire nation, for prayers for the eternal repose of his soul and for his family and loved ones that they find strength to see this tragedy through. While he has left us to be with the Creator, his memory and legacy should be remembered, now and in the days to come," he added.

Senator Pia Cayetano, who is out of the country, issued a statement, saying: "My family and I join the nation in mourning the loss of a great Filipino servant and friend Sec Jesse Rebredo and his companions.

"We pray that the families of Sec Jesse, his pilot J. Bahinting and co-pilot K. Chand may be enveloped in love at this difficult time. I consider Sec. Jesse not just a friend but a mentor. I was campaigning as a senator in 2004 when I met hi m as mayor of Naga City," Cayetano said.

"Later, I arranged with Mayor Jesse to visit Naga City to learn from their best practices, they were best in everything. For years, I've told people how progressive and inspiring Naga City [is], one of my favorite cities in the country," Cayetano added.

Ex-Sen. Zubiri rode Robredo plane recently

Meanwhile, former Senator Migz Zubiri, in a statement, said: "It's truly a sad day for good governance in our country because of the death of sec.Jessie Robredo. He was a principled and honorable leader and most of all a devoted family man."

"It is also a sad day for the aviation industry for losing a great pilot whos devotion to his craft is second only to his charitable works as a true christian. I have personally known Capt.Jessup Bahinting for several years and have flown with him on the same plane, several times in the past. The last of which was Aug.10,11 and 12," Zubiri said.

"Nothing seemed wrong w the plane at that time and my experience with Capt. Bahinting's piloting skills are unquestionable. Capt. jessup as he is fondly called was a true Humanitarian and would always lend his skill and his planes to people in need," Zubiri recalled.

"More recently, His plane even rescued and brought the aide of Gov.Matugas who survived an assasination attempt last aug.13 to a cebu hospital from surigao city, as well as the several other humanitarian missions he has done in the past without any fanfare. The country truly lost 2 great individuals but lets let their spirit live on inside us. May God bless their souls," Zubiri said.

More tributes

The United States Embassy issued a statement saying, "Ambassador Thomas and the entire U.S. Embassy in Manila extend our heartfelt condolences to the family and friends of Secretary Jesse M. Robredo, as well as Captain Jessup Bahinting and Kshitiz Chand, who lost their lives in a plane crash on August 18."

"We will miss our friendship and partnership with Secretary Robredo, as he dedicated himself to bettering the lives of the Filipino people. We stand with the people and government of the Philippines at this difficult time, and are prepared to assist the Philippine Government in the aftermath of this tragic accident," the embassy added.

Former US Ambassador to the Philippines Kristie Ann Kenney, via Twitter, said: "Admired. Respected. Dedicated. Sec. Robredo will be deeply missed. My deepest condolences to his family."

Canadian Ambassador Christopher Thornley hailed Robredo for being an exemplary public servant, describing him as “a leader who ushered in a new era of political reform in the Philippines.”

“The government of Canada would like to extend its deepest sympathy to the family of Secretary Robredo, the government of the Philippines and the Filipino people,” Thornley said in a statement.

“He inspired government workers to selfless devotion in public service. He was an icon of change and a passionate advocate of good governance,” he added.

Robredo, the envoy said, is recognized for his contributions to government transparency and democratic development - values that Canada strongly shares with the Philippines.

“He will be sincerely missed by the Filipino people, including the 600,000 Canadians of Filipino origin,” Thornley said.

United Kingdom Ambassador Stephen Lillie, in a statement posted on the British Embassy website, said: "The British Embassy is saddened by the death of Interior and Local Government Secretary Jesse Robredo, Captain Jessup Bahinting and co-pilot Kshitiz Chand. We extend our heartfelt condolences to the Government of the Philippines and the families of Secretary Robredo, Captain Bahinting and Mr. Chand."

Philippine National Police chief Director General Nicanor Bartolome, in a statement, said: "The entire 147,000 men and women of the Philippine National Police mourn the demise of the father of the DILG family, Secretary Jesse M Robredo."

"All PNP camps are hoisting the national colors at half mast as an expression of our great respect to a great man and a good leader who steered the DILG-PNP family through the straight and narrow path of proper public service," Bartolome said.

"As Chief of the PNP, I extend the deepest sympathy of all officers and men to the family of the late Secretary. We join the family and friends of the late secretary in prayer fir theternal repose of his soul," Bartolome added.

Department of Health Undersecretary Enrique Tayag, via Twitter said: "Sad day for the Philippines. We will miss you Sec. Robredo. The nation mourns passing of a Leader."

The Taguig City government, via Twitter, said: "The City of Taguig mourns the loss of a great man, friend and icon in local government service, Sec Jesse Robredo."

Mahar Lagmay, executive director of Project NOAH, via Twitter, said: "We have lost a great man. Your good heart will always be an inspiration to us all."

Rep. Lucy Torres Gomez, via Twitter, said: "R.I.P. Sec. Jesse. Heaven is your reward for a life well-lived. You will always be an inspiration to so many."

Customs commissioner Rozzano Rufino Biazon, via Twitter, said: "Like Ninoy's passing on Aug. 21 started a freedom revolution,let Aug. 21 be the start of a good governance revolution in Sec. Jesse's name." - with Kim Tan, Andreo Calonzo, Mark Merueñas, Gian Geronimo, Shai Panela, Michaela del Callar, VVP, GMA News

source: gmanetwork.com

Marcos Properties Up For Bid

MANILA, Philippines --- The government will auction two real estate properties that formerly belonged to the Marcos family in Baguio City in a public bidding in August.

The Presidential Commission on Good Government (PCGG) identified the properties up for as the 17,516.20 square-meter J.Y. Campos compound and the 2,677 square-meter Baguio Inn compound located along Outlook Drive North.

PCGG chairman Andres Bautista said the properties would be auctioned off for a minimum bid price of P152.691 million and P7.496 million, respectively.

Earlier, the PCGG Privatization Committee privatized the Hanz Menzi compound in the same prime location for P93 million, which the Commission has remitted to the Comprehensive Agrarian Reform Program fund.

“With the successful public auction in April 2012 of the Hanz Menzi compound also located in Outlook Drive North in Baguio City, which fetched more than P93-million or a premium of about P56-million from its minimum bid price of only P37-million, I have no doubt that the subject properties the PCGG will dispose will command the same level of interest from potential bidders,” Bautista said.

PCGG Commissioner for Asset Management Department Richard Amurao, who is designated in concurrent capacity as chairman of the Bids and Awards Committee for the properties, said the two properties are considered as good investment opportunities owing to its proximity to Wright Park and Mines View Park, two of the favorite tourist destinations in Baguio City.

Amurao emphasized that after bidding out the properties, the PCGG will endorse the results to the Privatization Council, which is chaired by the Department of Finance, for final approval.

“The proceeds of the sale would go to CARP as additional funding source as mandated by law,” Amurao said. PCGG’s efforts to recover ill-gotten wealth and privatize surrendered properties have generated P93.421 billion for government as of December 2011.

The J.Y. Campos compound and the Banaue Inn compound are among the assets and properties ceded to the Philippine Government in 1986 by Marcos crony Jose Yao Campos.

source: mb.com.ph