MANILA, Philippines—National Economic Development Authority (NEDA) Secretary Cayetano Paderanga Jr. on Wednesday faced the powerful Commission on Appointments for his confirmation hearing amid opposition.
The opposition came from former Ambassador and Foreign Secretary Roberto Romulo and Philippine Stock Exchange director Vivian Yuchengo in separate letters they submitted before the CA’s committee on tourism and economic development.
In his letter, Romulo cited Paderanga’s alleged “major lapses” and “failures in management” when he was chairman of CIBI Information, Inc. from 2000 to 2007.
Romulo said Paderanga failed to ensure that the company remitted to the government the amount of P2.6 million from 2004 to 2006.
Paderanga did not also disclose to the Board that the legal consultant that he hired for the company was his brother-in-law.
“When the relationship was exposed, Mr. Paderanga hastily volunteered to shoulder part of the consultant’s monthly compensation,” said Romulo .
Yuchengco, meanwhile, cited Paderanga’s poor attendance records when he was president and chief executive officer of the PSE from January to June of 2004.
“Mr. Paderanga’s performance as President was found wanting. He did not maintain regular hours in the PSE nor did he come to the Exchange on a daily basis,” she said.
For the entire six months of his service, Paderanga only rendered 300.15 hours of the 680 hours required of him, Yuchengco noted.
Asked about it during the hearing, Paderanga explained that the job of the CEO was “multi-dimensional” and that he had to attend public engagements, committee hearings and multi-sectoral meetings outside the office.