Published February 17, 2021, 5:10 PM
The House of Representatives investigation into the “bad loans” of owners of the ABS-CBN network with the Development Bank of the Philippines has been expanded to include similar loan issues totaling P9.55 billion that led to huge losses to the state-owned bank.
(MANILA BULLETIN FILE PHOTO)
Members of the House Committee on Good Government and Public Accountability unanimously adopted a motion for the inclusion in the on-going inquiry “bad loans” that the DBP sold to special purpose vehicles or financial companies at a loss in 2006.
The House panel also agreed to a motion made by Anakalusugan Rep. Michael Defensor for the issuance of a subpoena that will compel the DBP board and management to submit the list of private companies that failed to pay loans extended by the bank.
House of the Representatives (ALVIN KASIBAN / MANILA BULLETIN / FILE PHOTO)
Anakalusugan Partylist Rep. Michael Defensor cautioned the House leadership against rushing plenary action on Resolution of Both Houses No. 2 that proposes amendments to certain economic provisions of the 1987 Constitution.
“I believe that in rushing Cha-cha, the House is putting the cart before the horse. The House should first resolve with the Senate at least two contentious issues,” said Defensor in a statement released Tuesday, February 16.
“One is whether the two chambers need to approve a joint resolution formally convening themselves into a constituent assembly before one or both of them can tackle any amendment proposal.The other issue is whether the two chambers vote separately,” explained Defensor.
Former House Speaker Alan Peter Cayetano
(PCOO / MANILA BULLETIN / FILE PHOTO)
In a press statement, Cayetano said House Bill 8628 or the proposed Bayanihan to Arise as One Act (Bayanihan 3) authored by Velasco “might not be approved in time to help those who need it the most.”
Cayetano also took a jab at Velasco’s bid to prioritize Charter change moves which the Lower House Committee on Constitutional Amendments did when it adopted last week Resolution of Both Houses 02.
“This is precisely why we asked that we focus on what is important, #AyudaHindiChacha, so that we can give the best solutions to the problems facing the nation without any distractions,” he said.
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