CICC: Any return on investment?

As it is election season, politicians shall take the center stage.  Expect, therefore, that the print media shall be swamped with huge photographs and promises, the air waves will be congested with mouth-watering rhetoric and the social networking sites shall be jammed with unusual traffic.  Allegedly, they are doing these, all for the wholehearted love for service.  

Truth to tell, since I was a kid, the people who surround me have been so, at the very least, star-struck and at the most, aghast, about politicians.  This is so, they said, because on their triumphs they become patriots, while on their defeats, they are endeared as heroes.  Now, a grown-up, my impression is quite different.  I am about to believe that politicians are the “chosen ones”.  I’m about to be swayed to such belief because, seemingly, they are very “well protected” with readily available excuses that they can easily grab and conveniently use.  For one, if someone accuses them of malfeasances, they can always parry these allegations by saying “these are politically motivated”.  Secondly, when the accusations are found to have legal basis and are filed in court or they are suspended, they will simply try to elicit public sympathy and sanitize themselves before potential voters by saying, “it is a political harassment”.   

Today, the phrase, “it is a political harassment”, is gaining prominence as suspended Gov. Gwen Garcia takes the center stage and uses it as usual, as shield or shelter.  Whether it will work this time or not, we aren’t privy to that.  What we truly know is, the Ombudsman found “probable cause” that the government was disadvantaged relative to the acquisition by the Cebu Provincial Capitol of the Balili property in Naga and has filed the case in the Sandiganbayan.  The court’s magistrates, knowledgeable and credible that they are, shall certainly hand down the verdict with all impartiality and decency.  Therefore, it shall be wise and prudent, at this point in time, to just leave the issues regarding the Balili property acquisition with the court and for it to resolve. 

However, apart from the issues regarding the Balili property acquisition, an even bigger issue involving the construction of the Cebu International Convention Center (CICC) remained unresolved.  While it is true that it was built to accommodate that pressing need of the national government to have one due to the country’s hosting of the 12th ASEAN (Association of Southeast Asian Nations) Summit, the fact remains that it was built at a mind blowing cost.  

Moreover, since, for all intents and purposes, it is an economic enterprise, then, we ought to know if there are returns on investment (ROI).  As far as we know, the provincial government (during suspended Gov. Gwen Garcia’s reign) engaged the Philippine Exhibits and Themeparks Corporation (PETCO) to manage the property.  Despite PETCO’s known expertise, we still do not know if, indeed, returns have started trickling in.  Certainly, however, though reportedly peppered with huge floor-flooding roof leaks, the provincial capitol is still spending big amounts monthly just for its upkeep.  

Even if only for such reason (ROI), this is such an issue that deserves continuous front page attention.  Suspiciously, however, it has been relegated in the inside pages for quite some time.  It deserves such recognition, not necessarily on the validity of its construction per se but on its mind-boggling cost and the ways of recovering it through profitable utilization.

Apparently, therefore, for us (Cebuano taxpayers) to recover our investment on this piece of property, we must urge the next administration (hopefully, not the Garcias) to impartially, honestly and comprehensively review the management agreement with PETCO.  While it could be a long shot, still, the possibility that we can recoup on our losses (such as, padded construction cost, cost of money and lost opportunities) isn’t remote. 

Indeed, in suspended Gov. Gwen Garcia’s reign, apart from the highly questionable construction cost, CICC remained underutilized.  It might not be a white elephant, but surely, a malnourished one.

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