Palace chides Loren, defends property auction

Malacañang has dismissed as mere speculation vice presidential candidate Loren Legarda's accusation that prime government properties are being sold off to raise campaign funds for administration-backed candidates. Cabinet Secretary Silvestre Bello III chided Senator Loren Legarda, the Nacionalista party’s candidate for vice president, for raising a false alarm. 'There is no issue at all' "Puro haka-haka lang yan, gumagawa ng issue where there is no issue at all (The supposed fire sale is just speculation. Someone is making up an issue where there is none)," Bello said on government-run dzRB radio on Saturday. At the same time, Bello defended the property auction, saying that the government has "been trying to sell this property so it will be run better by the private sector," referring to the Food Terminal, Inc., (FTI) one of the properties being sold. Bello added that the sale of the FTI property has been ongoing since the administration of former president Fidel Ramos. P30 billion deals Earlier, Legarda claimed that the government is pushing through with the sale of big-ticket properties such as 103 hectares owned by FTI in Taguig City; shares in the Philippine National Oil Co. Exploration Corporation; and the lease of the Fujimi property in Japan. The deals are expected to raise P30 billion for the government. "If we have a good opportunity of getting a good price for FTI and we can assure our people FTI will be handled more capably and better by the private sector... wala akong nakikitang masama riyan (I see nothing wrong there)," he added. Bello dismissed claims the proceeds of the sale will go to campaign coffers of administration candidates. He said that the only way the funds can be touched will be through the budget, or the General Appropriations Act. "Di pwede yan. 'Pag binenta 'yan, ang pera na binayad para sa FTI will go to the national treasury (The funds cannot go to the campaign coffers. Any proceeds from any sale of government properties will go to the National Treasury)," he said. - Nikka Corsino/TJD, GMANews.TV