MANILA, Philippines?Senator Aquilino Pimentel Jr. on Monday warned the government against any ?midnight sale? of its assets which may be used to raise campaign funds for administration candidates in the May 2010 general election.
Pimentel believes the continued auction by the government of some of its assets in the remaining months of its term was designed more to ?fatten the pockets of unscrupulous bureaucrats than replenish and stabilize the public treasury.?
?To make up for its deficiency in tax collections, the Arroyo administration has been selling all kinds of assets, from its shareholdings in Petron and Meralco to military camps or reservations apparently without due regard to the strategic importance of maintaining government stake in these corporate enterprises,? Pimentel said in a statement on Monday.
?Out of prudence, the Arroyo government should desist from selling more state assets to allay the apprehensions that such business deals are part of the fund-raising campaign for administration candidates in the 2010 elections,? he said.
Oftentimes, he said, the proceeds of asset privatization have been misused and not spent on the purposes for which they intended.
For instance, the privatization of Fort Bonifacio in Makati and Taguig, as well as other military camps and reservations, was primarily intended to fund the modernization of the Armed Forces of the Philippines (AFP), the senator said.
Despite this, he said the military establishment remains ?badly ill-equipped? because the funds have been allegedly diverted to other projects and activities, he added.
Pimentel specifically questioned why the government-owned prime property in the Fujimi district in Tokyo, which houses the residence of the Philippine ambassador to Japan, was still listed in the government assets to be privatized despite a Malacańang denial that the deal has been shelved.
The Philippine Ambassadors Association, the senator noted, was against the demolition of the building and the conversion plan since it is officially recognized as a protected national cultural heritage.
Pimentel said it was also unfortunate that the sprawling complex of the National Center for Mental Health and the Welfareville or Boys Town in Mandaluyong City, the premises of the National Penitentiary in Muntinlupa City, the home for the aged in Quezon City, and the Philippine Postal Corporation are being sold by the government in complete disregard of their importance in providing vital social government services.
The government, he said, has also started the auction of the following properties: the 103-hectare complex of the Food Terminal Inc. in Taguig City, which is expected to generate about P14 billion; the remaining government stake in Petron; its shareholding in the San Miguel Corporation; and the 14 percent government?s shares in the PNOC Energy Exploration Corporation.
