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Tuesday, November 08, 2005
Solons want GOCCs approved by House
By Lizanilla J. Amarga
MINDANAO legislators now want all new foreign loans contracted by Government Owned-Controlled Corporations (GOCCs) and Government-owned Companies (GOCs) to first be approved by Congress.
They agreed to appoint Compostela Valley Representative Manuel "Way Kurat" Zamora to look into the drafting of a bill that would make sure that no foreign borrowings be made by these GOCCs and GOCs with the imprimatur of Congress being the one entrusted by the Constitution as having the "Power of the Purse."
The Mindanao Congressman Forum held last Saturday was attended by 19 administration congressmen from Mindanao, Palawan and even with observers from Luzon. It was held Monday at Pearlmont Hotel this city.
Mindanao Congressman Forum spokesman Zamboanga Sur Representative Antonio Cerilles said it is just proper that they should revisit the law that would allow the President to make foreign borrowings for these GOCCs and GOCs.
"This should not continue as it would seem that they themselves are making the loans without consulting Congress but the country is the one guaranteeing such loans," he said.
"Wara kini ug relasyon sa amahan ug anak nga ang anak sige lang ug pangutang wala kabalo ang amahan unya kalit nalang dayon naay naningil nga angay bayaran kadtong utang sa anak," Cerilles added.
But Surigao Sur Representative Prospero Pichay said it is the Constitution that allows these foreign borrowings when it allows the President to contract foreign loans.
"We have to be careful about this resolution because I think it is not just a law that allows the president to contract foreign loans but the Constitution itself," he said.
Misamis Oriental Second District Representative Augusto Baculio, Jr. said the operative word in this resolution would be "foreign borrowings" and that this might include that of a law passed in 1948 giving the President powers to enter into foreign debts.
"No president would want this old law amended. If we have to then we have to do it now," he said.
Baculio said they could suggest that they could just put a limit to the amount of foreign loan that has to pass through Congress.
"We can put a ceiling that no foreign borrowing of more than P$1 million would be allowed without the approval of Congress," he said.
Cerilles said he believes this 1948 law has been amended by the Constitution that now provides that all appropriations emanate from the Lower House.
Because of this, the Mindanao Congressmen Forum agreed to have Congressman Zamora draft a bill that all foreign loans contracted by agencies must face congressional deliberations before they be allowed.
The other congressmen who were around include Jeje Romualdo of Camiguin, Antonio Alvarez of First District of Palawan, Roseller Barinaga of the Second District of Zamboanga del Norte, Acmad Tomawis of the ALIF party, Boy Banaag of the First District of Agusan del Norte.
Also, Tikbong Badelles of the First District of Lanao del Norte, Boy Nograles of the First District of Davao City, Augusto Baculio, Jr. of the Second District of Misamis Oriental, Cesar Jalosjos of the Third District of Zamboanga del Norte, Guillermo Cua of CoopNatcco, Abdullah Dimaporo of Second District of Lanao del Norte, Danilo Lagbas of the First District of Misamis Oriental, Constantino Jaraula of Cagayan de Oro city, Prospero Pichay of Surigao Sur, Connie Dy of Pasay City, Cora Malanyaon of Davao Oriental and Angel Amante from Second District of Agusan del Norte.
(November 8, 2005 issue)
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