Independent commission to audit public debts launched
03/04/2008 | 12:08 AM
MANILA, Philippines - An independent commission that aims to audit the country's public debts was launched Monday with a least 30 people taking their oath as members of the commission.
Created in response to a petition initiated by the People Against Illegitimate Debt movement, the Independent Citizens' Debt Audit Commission was launched three days after the interfaith rally in Makati City.
Prof. Randy David of the University of the Philippines, a member of the commission, said “the public debt issue is the most highly concealed crime of the state against its people."
“In a period when our government institutions lack integrity and credibility to undertake impartial investigations on loan-financed projects and programs marred with anomaly and fraud, people should actively engage to address this problem," David said.
He said critical analysis of the public debt system is one of the most powerful ways to reveal the flaws and malfunctions in governance.
Milo Tanchuling, PAID! co-convenor and secretary general of the Freedom from Debt Coalition, said the citizens' commission aims to conduct a "critical, comprehensive, participatory and transparent examination" of the Philippine public debt and contingent liabilities based on testimonies and inputs from affected communities, data and studies, and researches prepared by working groups and technical teams.
"With Rodolfo 'Jun' Lozada's revelation on the aborted $329 million ZTE-NBN deal, the Philippines' debt problem and the continued accumulation of illegitimate debts has once again been put in the spotlight," said Tanchuling.
PAID! members said the Commission is also charged with recommending immediate steps and "far-reaching solutions" toward eradicating the debt burden and correcting structural and systemic flaws.
The examination of structural issues shall not be confined in the Philippine system alone but will also address the international financial architecture, the group said in a statement.
Beckie Malay, vice president of FDC and of the Philippine Rural Reconstruction Movement, said there are more ZTE-type debts that not only continue to evade public scrutiny but also are being paid with public funds.
The World Bank funded textbook project, the Cyber Education Project and the Austrian loan funded Medical Waste project are just some examples, she said.
To date, the National Government has a debt of P3.78 trillion or $81.6 billion. The total consolidated public sector debt as of percentage to the Gross Domestic Product is 81.9 percent.
Each Filipino, from the newly born baby to a dying septuagenarian, is indebted by as much as P43,487, paying P7,012 annually to service the debt, the group's statement said.
"Every minute, our government, using our money is paying a mind-boggling P1.1 million just to service the debt," Malay said.
Aside from David, other inducted members of the Independent Citizens' Debt Audit Commission include former Vice President Teofisto Guingona, former Senator Wigberto Tanada, Bishop Efraim Tendero, Dr. Sixto K. Roxas, Fr. Ben Moraleda, Sr. Cres Lucero, former Representative Mayong Aguja, Former FDC president Ana Maria R. Nemenzo, FDC vice president Lidy Nacpil, Dr. Sylvia Estrada-Claudio, Atty. Antonio Oposa, Dr. Grace Jamon, Atty. Golda Benjamin, Dr. Aurora Parong, Dr. Emmanuel Luna.
Economics Prof. Joseph Lim, Atty. Ibarra Gutierrez, Atty. Mari Paz Luna-Severino, Prof. Eduardo Tadem, Atty. Teddy Pascua, Mr. Eribert Padilla, Ms. Vaupet Pena representing the youth sector, Mr. Vic Fabe representing the farmers and fisherfolk, Teacher Benjo Basas, and representatives from the labor and urban poor sectors.
PAID! members said the citizen commission will complement the Congressional auditing of public debt by raising questions beyond the limits of the parliamentary initiatives, and by putting forward recommendations sourced from the people's standpoint on the problem.
Tanchuling confirmed that Albay Rep. Edcel Lagman has re-filed a joint resolution pushing for an official Congressional Audit of Public Debt and Contingent Liabilities in the House of Representatives.
"While we are pushing for the official debt audit, we believe that an independent citizen's audit is also crucial," he said. - GMANews.TV
Created in response to a petition initiated by the People Against Illegitimate Debt movement, the Independent Citizens' Debt Audit Commission was launched three days after the interfaith rally in Makati City.
Prof. Randy David of the University of the Philippines, a member of the commission, said “the public debt issue is the most highly concealed crime of the state against its people."
“In a period when our government institutions lack integrity and credibility to undertake impartial investigations on loan-financed projects and programs marred with anomaly and fraud, people should actively engage to address this problem," David said.
He said critical analysis of the public debt system is one of the most powerful ways to reveal the flaws and malfunctions in governance.
Milo Tanchuling, PAID! co-convenor and secretary general of the Freedom from Debt Coalition, said the citizens' commission aims to conduct a "critical, comprehensive, participatory and transparent examination" of the Philippine public debt and contingent liabilities based on testimonies and inputs from affected communities, data and studies, and researches prepared by working groups and technical teams.
"With Rodolfo 'Jun' Lozada's revelation on the aborted $329 million ZTE-NBN deal, the Philippines' debt problem and the continued accumulation of illegitimate debts has once again been put in the spotlight," said Tanchuling.
PAID! members said the Commission is also charged with recommending immediate steps and "far-reaching solutions" toward eradicating the debt burden and correcting structural and systemic flaws.
The examination of structural issues shall not be confined in the Philippine system alone but will also address the international financial architecture, the group said in a statement.
Beckie Malay, vice president of FDC and of the Philippine Rural Reconstruction Movement, said there are more ZTE-type debts that not only continue to evade public scrutiny but also are being paid with public funds.
The World Bank funded textbook project, the Cyber Education Project and the Austrian loan funded Medical Waste project are just some examples, she said.
To date, the National Government has a debt of P3.78 trillion or $81.6 billion. The total consolidated public sector debt as of percentage to the Gross Domestic Product is 81.9 percent.
Each Filipino, from the newly born baby to a dying septuagenarian, is indebted by as much as P43,487, paying P7,012 annually to service the debt, the group's statement said.
"Every minute, our government, using our money is paying a mind-boggling P1.1 million just to service the debt," Malay said.
Aside from David, other inducted members of the Independent Citizens' Debt Audit Commission include former Vice President Teofisto Guingona, former Senator Wigberto Tanada, Bishop Efraim Tendero, Dr. Sixto K. Roxas, Fr. Ben Moraleda, Sr. Cres Lucero, former Representative Mayong Aguja, Former FDC president Ana Maria R. Nemenzo, FDC vice president Lidy Nacpil, Dr. Sylvia Estrada-Claudio, Atty. Antonio Oposa, Dr. Grace Jamon, Atty. Golda Benjamin, Dr. Aurora Parong, Dr. Emmanuel Luna.
Economics Prof. Joseph Lim, Atty. Ibarra Gutierrez, Atty. Mari Paz Luna-Severino, Prof. Eduardo Tadem, Atty. Teddy Pascua, Mr. Eribert Padilla, Ms. Vaupet Pena representing the youth sector, Mr. Vic Fabe representing the farmers and fisherfolk, Teacher Benjo Basas, and representatives from the labor and urban poor sectors.
PAID! members said the citizen commission will complement the Congressional auditing of public debt by raising questions beyond the limits of the parliamentary initiatives, and by putting forward recommendations sourced from the people's standpoint on the problem.
Tanchuling confirmed that Albay Rep. Edcel Lagman has re-filed a joint resolution pushing for an official Congressional Audit of Public Debt and Contingent Liabilities in the House of Representatives.
"While we are pushing for the official debt audit, we believe that an independent citizen's audit is also crucial," he said. - GMANews.TV
READER'S FEEDBACK:
From: Amado Santo in Singapore
Sent: Thursday, March 06, 2008 4:18 PM
this is long overdue. we hope that this will lead to the framing of a more integrated debt structure.
As long as this body does not engage in politics, the cancer of the Philippine society, this move will have the support of the people.
Sent: Thursday, March 06, 2008 4:18 PM
this is long overdue. we hope that this will lead to the framing of a more integrated debt structure.
As long as this body does not engage in politics, the cancer of the Philippine society, this move will have the support of the people.
