MANILA, Philippines — Former Senator Ping Lacson attributed on Monday the escalating cost of the New Senate Building (NSB) in Taguig to the establishment’s security system and land acquisition.
The NSB’s construction began in 2019. Lacson used to head the Senate panel on accounts during that time.
“The new total cost of P23.3 billion includes the cost of the fit-out accessories and technical components of the security system as well as the land acquisition which was valued at that time at P1.62 billion — at P90,000 per square meter— and has since tremendously appreciated in value, I understand, and this may not be accurate that the current real estate value in that same area is P500,000 per square meter,” Lacson told reporters in a text message.
His remarks came after Senate President Chiz Escudero ordered the review of the project, noting that its budget has increased from an initial amount of P8.9 billion to P23 billion.
Lacson said he agrees with Escudero’s decision to review the project.
The former senator, however, clarified certain matters, citing research conducted by his former staff and team of consultants who eventually joined Senator Nancy Binay’s office, who is his successor as chair of the Senate’s panel on accounts.
“Not a single peso of the P10.3 billion additional funds, while already part of the 2024 General Appropriations Act and covered by Multi-Year Contractual Authority has been awarded since Sen Nancy and her team have consistently objected to the Department of Public Works and Highways’ requests for variation orders,” said Lacson.
READ: Escudero wants P23-billion new Senate building reviewed: Parang OA