Aquino’s net worth jumps by P1.3M in 2013-A A +A
Friday, May 2, 2014
PRESIDENT Benigno Aquino III's net worth last year could have reached P66.43 million after his cash on hand earned interest of about P1.3 million.
Aquino told reporters in Tagbilaran City, Bohol that his staff already submitted his Statement of Assets, Liabilities and Net Worth (SALN), beating the April 30 deadline set by the Office of the Ombudsman for all the government officials and employees.
Asked if his assets and net worth increased, he said, "If I'm not mistaken - P1.3 million."
He said his cash on hand earned interest.
In his SALN in 2012, the President's total net worth amounted to P65.13 million, of which cash on hand and in banks was at P27.4 million.
Section 17, Article XI of the 1987 Constitution requires "public officials and employees to file their SALN upon assumption to office and as often as may be required by law."
Under Section 8(A), Republic Act (RA) No. 6713 (Code of Conduct and Ethical Standards for Public Officials and Employees), government officials and employees are required to file their SALNs "(a) within thirty (30) days after assumption of office; (b) on or before April 30, of every year thereafter; and (c) within thirty (30) days after separation from the service."
The law requires all government officials and employees to submit declarations under oath of their assets, liabilities, net worth and financial and business interests including those of their spouses and of unmarried children under 18 years of age living in their households.
Those who serve in an honorary capacity, laborers and casual or temporary workers are exempted from the filing of SALN (Section 8[a] of RA 6713).
Ombudsman Conchita Carpio Morales has warned that failure to file SALN is a less grave offense punishable with suspension of one month and one day to six months for the first offense, and dismissal from service for the second offense, and that those who violate the SALN rules may also face criminal charges of Perjury under Article 183 of the Revised Penal Code, and violation of the Anti-Graft and Corrupt Practices Act (RA 3019).
Morales reminded government employees to be truthful in accomplishing the SALN form as it is an important tool in determining illegally acquired wealth. (SDR/Sunnex)