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Thursday, November 10, 2005
CPA to receive P70M for burned warehouse
Some P60 million worth of goods that went up in smoke was not insured, said an investigation report on the July 31 fire that gutted the Cebu Port Authority (CPA) warehouse.
Everything else in the warehouse was covered with insurance policies.
The report of the inter-agency anti-arson task force said the Bureau of Customs (BOC) owned the P60 million worth of seized and forfeited goods that were uninsured.
BOC Port of Cebu District Collector Ma. Lourdes Mangaoang expressed dismay at the failure of her predecessors to have the goods insured. She took over the post last May.
The warehouse was insured for P75.7 million by the Government Service Insurance System (GSIS).
The amount was broken into two insurance policies, at P69.9 million and P5.8 million.
Since the CPA constructed the warehouse for P35.2 million, it will gain about P40.5 million once it is paid by the Government Service Insurance System.
The Starlite Cargo Express Inc. office, where the fire started, was insured for P55 million.
Other firms that lost properties to fire and but had insurance policies were Daiken-Alen Aircondition (P9.4 million), Sunpride Foods Inc. (P1.4 million and US$25,000), and Thermal Combustion Entergies Inc. (US$46,678.86).
The seized goods had been stored in the warehouse from three to 13 years already.
The Port of Cebu failed to sell the goods through public auction allegedly because of red tape.
In its report, the task force considered the fire incident as “solved and closed”, attributing the cause of the fire as “accidental.”
The report was signed by Chief Insp. Fennimore Jaudian and approved by the Department of Interior and Local Government (DILG)Undersecretary Marius Corpuz.
The task force is under the DILG. (EOB)
(November 10, 2005 issue)
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