MANILA, Philippines – The opposition bloc in the House of Representatives said yesterday that President Aquino was violating his own promises to investors in promoting the Public-Private Partnership (PPP) program where he committed protection against “regulatory risks” or the threat of not being able to recoup investments due to adverse moves from the courts or the legislature.
Deputy Minority Leader and Quezon Rep. Danilo Suarez also scored Mr. Aquino for repeatedly harping on alleged anomalies of business transactions during the Arroyo administration.
“We from the House Minority view with alarm the administrations’ propensity for crafting half-baked policies and legally-suspect shortcuts, meddling in matter best left to the courts or legislature, making hasty and unfounded pronouncements, all to the disadvantage of our democracy, the national interest and the rule of law,” Suarez said.
He said the latest of such moves was the administration’s guarantee against regulatory, legislative and judicial action, which are incursions into the powers of the two branches of government.
He noted the while Mr. Aquino was making promises to investors last Nov. 19, on the same day, the Palace reiterated the cancellation of the P18.5 billion Laguna Lake dredging project.
“And Mr. Aquino conveniently forgets that he himself cancelled several perfected contracts since July, including an executive agreement for the Laguna Lake dredging project needed for flood control,” Suarez said.
He said during the previous administration, there arose a “billionaires club” because of huge investments that amounted to billions of dollars in the Philippines.
“I challenge him (Mr. Aquino) to name one project where there is allegation of anomaly or graft, among those investors that dumped money in the country,” he said.
Zambales Rep, Milagros Magsaysay said the President apparently wants to preempt “anybody who might question in case any transactions entered by the government if we feel that along the way it is disadvantageous to the government.”