Gov’t to sell assets worth P2B in Q4

The Privatization and Management Office (PMO) will dispose of 13 properties in Luzon and Mindanao in the fourth quarter as the government targets to hit P2 billion in privatization proceeds by the end of the year.

On its website, the Department of Finance-attached PMO said that among the major state assets to be sold in the last three months of the year were 13 parcels of agricultural and residential land of Al-Amanah Islamic Investment Bank of the Philippines. The PMO did not disclose the price of the lots.

The PMO will also auction off two parcels of land of Nafco Administration in Davao City.

Also to be disposed of are two residential lots in Parañaque City that belonged to Delta Motors Corp.

Six properties formerly owned by Development Bank of Rizal in Marikina City, Quezon City, Guiguinto, Bulacan and Tagaytay City are also up for sale.

In Hermosa, Bataan, 10 adjacent parcels of land with total size of 116.8 hectares that used to be owned by Paragon Paper Industries Inc. will be sold.

Four commercial and residential lots of Selectra Electronics in Tanay, Rizal will also be part of the disposition program for the fourth quarter.

In San Francisco, Quezon, the government will sell two adjacent parcels of land with total area of 125,456 sqm. These were originally owned by Retired Servicemen Enterprises Inc.

Thirty-five parcels of land in Quezon City, Camarines Norte, Laguna and Quezon province that belonged to Peninsula Development Bank will also be auctioned off before the end of the year. —BEN O. DE VERA