FVR to shed light on ‘disadvantageous’ property lease

Former President Fidel V. Ramos will be invited to a House inquiry to shed light on a “grossly disadvantageous” contract for the P1,000-a-year lease on a 5-hectare prime lot of the Department of Trade and Industry (DTI) in Pasay City during his administration.

The House good government and public accountability committee approved on Wednesday a motion to call Ramos to its next hearing on the contract between DTI, Philippine Exporters Confederation Inc., and Manila Exposition Complex Inc.

The lease contract is valid for 50 years and renewable for another 25 years for a fixed amount of P1,000 per year, according to Eastern Visayas Rep. Ben Evardone.

Signed on Jan. 23, 1996, the contract covers a prime 4.9-hectare lot located at the corner of Gil Puyat Avenue and Roxas Boulevard. —DJ Yap