Lopez says Manila now bankrupt

Manila mayoralty candidate Mel Lopez said yesterday the city has been driven to "bankruptcy" under the term of Mayor Lito Atienza with a debt of more than P1 billion.

During the Manila Overseas Press Club (MOPC) forum at the La Dolce Fontana, Lopez vowed to bring back surplus to the city government’s coffers if he wins the mayoralty race.

Lopez, a businessman and accountant, said the city has a total of P800-million debt to the Development Bank of the Philippines (DBP) and Landbank of the Philippines (LBP) that are due for payment in the next few months.

"The city of Manila is bankrupt. The problem of Manila now is that it is indebted by more than P400 million that it has to settle with Meralco, contractors and suppliers. According to Lopez, he inherited close to P700 million debt when he assumed the mayoralty post in 1986, but he stepped down from office with P1.4 billion surplus.

"I can bring surplus to Manila," he said.

The mayoralty bet of the opposition Koalisyon ng Nagkakaisang Pilipino (KNP) said Atienza backed out for the sixth time from attending a forum where both candidates could come face to face to answer issues and problems of the city. Atienza, Lopez said, again backed out from the forum to avoid embarrassment and discussions about the city’s debt.

Lopez also accused Atienza of harrasing KNP national and local candidates in Manila by not giving permits for their rallies and ordering the police to destroy their campaign materials and stage in Bustillos early this week.