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FVR to shed light on ‘disadvantageous’ property lease

/ 07:05 AM March 22, 2018

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.

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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

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TAGS: Ben Evardone, DTI, Fidel V. Ramos, Manila Exposition Complex Inc., Philippine Exporters Confederation Inc., property lease
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