Davao Rep. Prospero Nograles, a member of the ruling party Lakas-CMD, said Cojuangco is keeping his options open pending Mrs. Arroyo’s decision.
"He is agonizing over this thing about him being a presidential candidate in 2004," Nograles said. "He is weighing things very carefully before making what could be the most important decision of his life."
Cojuangco is the founder of the Nationalist People’s Coalition (NPC), one of the political parties allied with Lakas in the House of Representatives. He also chairs food and beverage giant San Miguel Corp. (SMC).
Nograles, one of the many Lakas congressmen expressing their support for Cojuangco, said the "body language" of the SMC chairman indicates his interest in seeking the presidency.
But there are some issues that need to be clarified, Nograles said, including the possibility that Mrs. Arroyo might change her mind and seek a full six-year term in next year’s elections.
Another factor to contend with, according to the Davao lawmaker, is the "pressure from SMC investors."
Cojuangco managed to rebuild SMC into a $10-billion conglomerate with the confidence of foreign investors who may consider pulling out once he decides to throw his hat into the political arena, Nograles said.
SMC currently has a multimillion-dollar deal with Kirin Beer of Japan under which the two firms would become the world’s fifth biggest beer company in the world.
Cojuangco’s nephew, Tarlac Rep. Gilbert Teodoro, earlier said his uncle is closely looking into three critical factors before deciding to give it a shot in next year’s presidential race.
Teodoro said the presence or lack of "suitable candidates with good programs of government," the chances of winning and finding a worthy successor to his uncle’s position as SMC chairman would be key to the decision.
Nograles, for his part, said he personally posed the question to Cojuangco during his 68th birthday celebration in San Francisco, California last week.
"He (Cojuangco) said: ‘Well, let’s just wait for the time being. This won’t take long. We have to be very careful with this or we might get burned. This is not as simple as deciding on what to wear for tonight’s party,’" Nograles said quoting Cojuangco.
Nograles said Cojuangco would be the second wisest choice as administration presidential candidate since he also enjoys the support of other coalition member parties as well as those from the opposition.
Cavite Rep. Gilbert Remulla, however, claimed the mainstream opposition party Laban ng Demokratikong Pilipino (LDP) and other opposition allies are lukewarm in supporting Cojuangco as their common candidate.
Although Remulla admitted moves from Cojuangco’s camp to push the NPC founder as the "unity president," he said most opposition members would prefer Sen. Panfilo Lacson.
"That is good, he wants to unite the country but the NPC is with the administration," he said.
Remulla said the LDP is going to hold a major caucus next month to come up with whom they will support.
Sen. Aquilino Pimentel Jr. earlier declared Cojuangco is not even sure of getting full support from the opposition.
And if Cojuangco is not sure of winning the support of the opposition, it is also uncertain if Lakas would draft him.
Earlier, Vice President Teofisto Guingona, Lakas president, said members of the ruling party wanted their standard- bearer to come from their ranks.
Guingona emphasized a lot of administration party members are presidential material.