“Standing at the crossroads, trying to read the signs to tell me which way I should go to find the answer…”

This opening verse from Eric Clapton’s 1974 song, “Let It Grow,” perfectly captures the country’s current position, both politically and economically.

Yes, Virginia, we are at a critical political juncture. The public’s trust in our elected and appointed officials is rapidly deteriorating as billions, if not trillions, of pesos—hard-earned taxpayer money—disappear into the pockets of corrupt individuals.

For many, the House of Representatives and Senate hearings, supposedly held “in aid of legislation,” feel like a Korean telenovela. The plot revolves around crooked flood control projects—some entirely fraudulent—with contractors and Department of Public Works and Highways (DPWH) officials as the main characters who led the country to this unfortunate mess.

The hearings have also revealed the extent and pervasiveness of corruption. Research suggested that corruption has been a problem since the Spanish colonial period. The Corruption Perception Index (CPI) labels corruption as a dangerous global issue, stating it “hinders progress” and is a “major threat to climate action.”

In the 2024 CPI, the Philippines ranked 114th out of 180 countries, scoring just 33 out of 100 points. This is significantly worse than the regional average of 44 and the global average of 43. Denmark, with a score of 90, is perceived to have the most honest public sector, followed closely by Finland and Singapore.

The lack of transparency, insufficient enforcement of laws, fraud, and nepotism that allowed just 15 contractors to secure billions of pesos in flood control and other infrastructure projects proves this point.

I agree with the stated objective of the hearings being “in aid of legislation.” However, my research showed that we are not lacking in laws against corruption; the most prominent is Republic Act 7080, the Anti-Plunder Law.

Signed in 1991, it was authored by the late Senate President Jovito Salonga, who was also the first chairman of the Presidential Commission on Good Government, a quasi-judicial body tasked with recovering ill-gotten wealth. The Philippines is also a signatory to the 2003 United Nations Convention against Corruption.

Drafting another law to close loopholes in existing anti-graft legislation is a welcome step, especially since the flood control controversy has resonated across all sectors and become a trending topic on social media platforms like Instagram, X, Facebook, and Threads.

Undoubtedly, corruption not only erodes public trust in government officials but, more importantly, weakens our democracy and stunts economic progress.

Concerns over corrupt practices in flood control projects are believed to be one reason for the prolonged decline of the Philippine Stock Exchange index (PSEi), which is threatening to fall below the 6,000 level.

While the PSEi is currently holding steady, certified financial analyst Jonathan “Jonas” Ravelas believes the market will remain on edge, with foreign investors staying on the sidelines unless the unsettling political situation is addressed. “There must be concrete actions against erring individuals,” he said. “It’s the only thing that could prevent the market from sliding down.”

I fully agree that to ease public pressure, civil and criminal charges must be filed in court and with the Ombudsman if there is prima facie evidence of fraud and malpractice.

Let’s start with Henry Alcantara, the DPWH District Engineer for the first district of Bulacan, who admitted to signing the project completion report without inspection. According to Bicol Saro party-list Representative Terry Ridon, he could be charged with plunder.

Jonas stated the Commission on Audit (COA) must play a crucial role moving forward to deter errors, omissions, and, most importantly, fraud in the implementation of government infrastructure projects. This means the COA should be present at every stage: from procurement and bidding processes to reviewing contracts, conducting progress inspections, and carrying out physical inspections after a project’s completion.

This is a fitting role for the COA, as it has the power, authority, and duty to examine, audit, and settle all accounts related to the revenue, receipts, expenditures, or use of funds and property owned or held in trust by the government or any of its subdivisions, agencies, and instrumentalities.