Napocor general counsel Rainier Butalid said this was the agreement reached during a meeting in Malacañang recently.
Butalid said the meeting was attended by the secretaries of finance, budget and management, office of the Executive Secretary, Napocor and representatives from the Office of the Solicitor General and the Philippine Development Alternatives Foundation Inc. (PDAF).
"PDAF has agreed to turn over all leasehold rights as well as all money deposits in its possession to the National Government on or before Sept. 30 after which it will be dissolved," he said.
Butalid said it would be the National Government which will decide on how the properties will be disposed of.
It is foreseen, however, that the original sub-lessees will be given some preferential rights to the property subject to the determination of the value of the property.
Records show that PDAF’s remaining budget, around P50 million, which is earmarked for the salaries of lawyers working in the Presidential Commission on Good Government and volunteer lawyers for the government’s program will also be turned over to the budget department which will disburse the money to the concerned personnel.
Butalid said the privatization plan that will be drawn up will affect 125,617 sq.m. of prime property in Makati including Ecology Village, Mile Long, parts of Don Bosco Church, the Meralco substation, Makati Police Office and Makati Fire Station.
Of the leased area, the National Government owns 77 percent while Napocor owns the remaining 23 percent. It was leased to PDAF during the time of former First Lady Imelda Marcos for P1 per sq.m. per year. – Donnabelle Gatdula