Council unloads more Marcos-linked assets
THE INTERAGENCY Privatization Council has approved the sale of state assets worth P83.1 million, including properties formerly owned by alleged Marcos cronies, a few weeks before President Aquino steps down from office.
Finance Undersecretary Gil S. Beltran, who chairs the council, told the Inquirer the council approved last week the proposal of the Presidential Commission on Good Government (PCGG) to finally award to the winning bidder the 5,161-square meter BBC-Legazpi City property, previously owned by former Ambassador Roberto S. Benedicto. Beltran did not name the winning bidder, who bought the property for P33.2 million, or 74.5 percent higher than the minimum bid price.
Benedicto was widely known as a close associate and alleged crony of former President Ferdinand E. Marcos.
The Privatization Council also gave its go-ahead to sell the 1,146-square meter Wigwam Compound located in Baguio City for
P20.7 million, which was 50.8 percent higher than the floor price. The compound was ceded to the government in 1986 by another Marcos associate, Jose Campos.
These two properties were auctioned off by the PCGG last March.
Beltran said the council also approved the proposal of the Privatization and Management Office (PMO) to privatize some assets that used to belong to Al-Amanah Investment Bank.
Seven lots valued at P24.4 million were to be awarded to their respective highest bidders, while six lots worth P4.8 million that had a single interested bidder would be up for a negotiated sale.
The Privatization Council also confirmed awarding Showa United Food Inc.’s property to Campos-led Greenfield Development Corp. for P50 million. This was another PCGG-led disposition.
The council also approved the auction of Kamayan Realty Corp. assets at a minimum bid price of P5,000 per square meter, Beltran said.
Last February, the Privatization Council gave the go signal to dispose of about P658-million worth of so-called “Hawaii Jewelry” that belonged to former first lady Imelda Marcos.
The outgoing Aquino administration had targeted to generate P2 billion in privatization proceeds annually.
