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COA report says PCGG failed to sell Marcos wealth
A total of nine real estate properties were scheduled to be disposed of in 2017, after the government recovered these from Marcos’s cronies (Photo By Spec. 4 Dino Bartomucci, Public Domain)
A report by the Commission on Audit (COA) revealed that the Presidential Commission on Good Government (PCGG) failed to sell the ill-gotten properties of the late dictator Ferdinand Marcos in 2017.
According to COA’s report, a total of nine real estate properties were scheduled to be disposed of in 2017, after the government recovered these from Marcos’s cronies.
“The audit team said that during the year, there was no public bidding conducted to privative the assets. The management failed to dispose of the properties from previous years,” the report read.
“The latest disposal of properties was made in CY 2014, wherein, only three out of the 11 real properties were privatized and none for the shares of stocks,” it added.
COA’s report said that the Good Government Commission “has not caused the reappraisal of assets subject of public bidding.”
The report further read that there was a target income of P336 million from the sale of assets, but with the commission’s failure, the target was not attained – and this was supposed to be used to implement the Comprehensive Agrarian Reform Program (CARP).
The nine properties include: a 64,669-square meter Independent Realty Corp. property in Cavite, a 26,812-hectare Bredco property in Bacolod, a 5,952-square meter lot in Naga City, a 2,335-square meter lot in Francisco Evergreen Subdivision in Tagaytay City, a 1,000-square meter lot in Calapan, Puerto Galera, Oriental Mindoro, a 480-square meter lot Kingswood Property in Emerald Court Subdivision in Caloocan City, and two 300-square meter lots in Pangarap Village also in Caloocan City.
COA in its report also cited that PCG is declared as the “critical agency” in charge with the task of assisting President Rodrigo Roa Duterte to recover the ill-gotten wealth accumulated by Marcos, his immediate family, relatives, subordinates, and close associates whether located in the Philippines or abroad.
