COA chides PCGG for delayed sale of recovered properties, assets

Published May 27, 2019, 12:38 PM

by Patrick Garcia

 

By Ben Rosario

The Commission on Audit has scolded anew the Presidential Commission on Good Government (PCGG) for the continued delay in the sale of recovered real properties, a radio station and shares of stocks, mostly coming from the collection of ill-gotten wealth of the late President Ferdinand E. Marcos and his cronies.

Commission on Audit (MANILA BULLETIN)
Commission on Audit (MANILA BULLETIN)

In the 2018 PCGG annual audit report released last week, COA also ordered the agency’s management to refund P122,250 paid for the purchase of 150 pieces of messenger bags intended as giveaways to employees.

COA declared as “unnecessary” the expenditures for the purchase of the bags that were supposed to be distributed to employees in the 32nd anniversary celebration of PCGG last year.

“We recommended that Management immediately refund the cost of procured messenger bags,” the audit agency recommended as it noted that the transaction was not, in any way, related to the discharge of PCGG’S mandate.

Auditors chided PCGG for the snail paced action in selling assets it has recovered.

COA made the same observation in its 2017 annual audit report of the agency.

“The Privatization Plan for Calendar Years 2015 to 2018 for surrendered assets under the agency’s control was not completely accomplished; thus, negating its goals and objective to augment the budgetary requirement of the Comprehensive Agrarian Reform Program (CARP),” COA stated.

Audit examiners said the agency was only able to complete the planning and approval phase of the privatization process flow of disposal of assets as of 2018.

The sale of the recovered assets started in 2015, and remained pending as of last year.

So far only 10 of 22 real properties were disposed of. A total 38 shares of stocks are still with the PCGG which was only able completely sell one.

Two jewelry collections taken from former First Lady and incumbent Ilocos Norte Rep. Imelda Romualdez Marcos have already been sold.

Reacting to the audit observation, the PCGG management said it was set to auction off 15 real properties and a share of stocks.

COA said the PCGG must prioritize the implementation of the privatization plan “to ensure the continuous support to the Comprehensive Agrarian Reform Program (CARP) Fund.”

The agency was also asked to submit a revised implementation plan for the privatization of properties, the sale of which have yet to be completed.

 
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