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Saturday, March 27, 2004
Arroyo 'ready to go to jail' over Maynilad deal
MANILA -- President Arroyo said she is prepared to go to jail to pursue her program of delivering clean water to the people, including the takeover of Maynilad Water Services Inc.
"Nobody will stop us from bringing clean water to the home of the average Filipino," Arroyo said during the "Patubig ni Gloria" program in Barangay La Huerte, Paranaque City.
She said her father, the late president Diosdado Macapagal, would have done the same thing, had he been put in the same situation.
"I would rather go to jail than see our people without clean water," the President said.
Senatorial candidate Melanio Mauricio also filed a complaint with the Office of the Ombudsman, accusing the President of violating the Anti-Graft and Corrupt Practices Act for allegedly allowing the bailout of the Lopez family-owned Benpres Holdings, Inc. from the ailing Maynilad.
In a press briefing, Presidential Spokesman Ignacio Bunye said the President's statement was motivated by her conviction, and supported by her strong confidence that there was nothing illegal, nor immoral in the planned reorganization of Maynilad.
Under the reorganization plan for Maynilad, the government will have a 61 percent stake in the water company, while the French firm Suez group shall own 30 percent.
Metrobank, which agreed to convert Maynilad's P3 billion debt to convertible and preferred stock, shall then have three percent, while employees of the water firm will own six percent.
The President also stressed that the government has nothing to hide in the Maynilad takeover, noting that she will favor the opening of documents, if allowed by the court.
Judge Reynaldo Daway of the Quezon City Regional Trial Court has earlier ordered that Amendment No. 2 to the take-over agreement be sealed and made available only to creditors and concerned parties.
This was, however, questioned before the Supreme Court by senatorial bet Melanio Mauricio, saying it violated the public's right to information.
Opposition senatorial bet Ernesto Maceda claimed that the sealed document contains the provisions which effectively relieves Benpres of its over P4 billion debts in Maynilad.
"We have nothing to hide and the government acted in the public interest at all stages of the transaction," the President asserted.
She maintained, "I am for transparency, under the rule of law and commercial integrity."
"If there is any document to be opened, then let it be done under the conditions of the court," she said, expressing no objection, should the High Tribunal decide to reverse the order of the regional trial court on Amendment No. 2.
In the meantime, the President said she will continue her program of delivering clean water to the people. "Nothing short of a court order shall deter me from doing my duty to serve the people," she said.
Maynilad supplies water to the west zone of Metro Manila.
Bunye said the government agreement with Maynilad was the "best solution that we have taking into consideration the continued employment of more than 3,000 workers, the obligation to deliver clean water to the people, the impact on the financial community and the local financial system."
Arroyo is seeking a fresh six-year term against four other candidates in the elections in May.
Doleout
Arroyo reiterated that the debts incurred by the Maynilad Water Services Inc. would be paid through future earnings of the company and not by a government doleout or guarantee.
The President, during an inspection of the "Patubig ni Gloria" project in Parañaque City, reiterated that the government agreed to rehabilitate Maynilad to ensure the continued supply of water to consumers in the western portion of Metro Manila.
She added that she has nothing against the public disclosure of Maynilad agreement, stressing that she is for transparency under the rule of law and commercial integrity.
"If there is any document to be opened, then let it be done under conditions defined by the court. We have nothing to hide and government acted in the public interest at all stages of the transaction. Our aim was to protect the peoples' right to clean water in the long term and we will continue to fight of this cause," she said.
The petition stemmed from the decision of Judge Reynaldo Daway of a Quezon City Regional Trial Court to seal Amendment No. 2, which he said, would only be available to the creditors and concerned parties. Amendment 2 reportedly contains the alleged bailout of the Lopezes, which previously operated Maynilad.
Arroyo said the legal charges would not deter her from pushing through with the takeover unless ordered by the court.
Presidential spokesman Ignacio Bunye said Arroyo is confident that she would not go to jail as the legal charges slapped against her in connection with the Maynilad agreement would nor prosper.
He reiterated that the deal remains the best solution stressing that the government would not pay the debt incurred by the Lopezes. JMR
(March 27, 2004 issue)
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