House probe sought on P100M Capitol loan
Another multi-million transaction of the Iloilo Provincial Government has been brought for questioning before the House of Representatives with a corresponding probe sought.
Initiated by two Ilonggo solons, Second District Representative Judy Syjuco and Fifth District Representative Rolex Suplico, the latest Congressional investigation as pushed is relative to the P100 million loan contracted with Land Bank of the Philippines (LBP).
As such, House Resolution (HR) 1076 were adopted by Syjuco and Suplico with Congress insiders saying other solons are now supporting the effort to have the matter officially looked into.
As stated, HR 1076 calls for the probe in the contract of loan "amidst allegations of irregularities, illegalities and improprieties."
"Whereas, the safeguards are still being sought to ensure that proper disbursement of said loan as designed will indeed be realized thus the request for deferment;" excerpts of the House Resolution went.
"Whereas, the Land Bank of the Philippines should defer the release of the P100 million loan of the Iloilo Provincial Government or outrightly reconsider its approval until such time that all surrounding events and legal cases are cleared and public interest has been appropriately protected relative to the many issues raised against the propriety of the loan and the orderliness of the use of these funds."
Syjuco and Suplico also officially manifested their request for deferment on the loan in a letter sent to the officers and members of the LBP Board.
"We fear the loud and serious allegations of irregularities, illegalities and improprieties as similarly charged by several elected provincial officials may have some good bases in truth," the letter went. "We ask for deferment on the release of funds from said loan application of the Iloilo Provincial Government until such that the concerns raised shall have been resolved, including a Congressional investigation on the matter by the House of Representatives."
This, as the two solons stressed, "We must state in no uncertain terms our position that deferment by the Land Bank of the Philippines is required in order to protect public interest."
To note, the subject loan proposal has reached the courts with the filing of Temporary Restraining Order by the minority group composed of Board Members Emmanuel Gallar, Bernardo Silla, Licurgo Tirador, and Macario Napulan late last year.
The group alleged that the provincial government committed some technical violations with the proposed loan.