PEA won’t oppose abolition

Administrators of the Philippine Estates Authority (PEA) vowed yesterday they would not block moves by Congress to abolish the agency, and declared that they would diligently discharge their duties during the transition.

The PEA officials made the pledge even as they warned that the abolition as embodied in House Bill 5912 might have adverse effects on the effective management of government assets and implementation of pertinent contracts entered into by the agency.

They also assured President Arroyo that they were cautiously implementing her directive on the dismissal of five ranking PEA officials charged with corruption.

"We believe that we serve the President best if every step we take is in accordance with law," they stressed.

In an April 14, 2003 letter to Malacañang, the PEA executives, led by general manager and chief executive officer Teodorico Taguinod, said they have agreed during their latest board meeting to allow HB 5912 to "run its course, making it clear that we will not stand in the way of its passage — it that were the wish of Congress."

"We will be ready to explain to Congress the implications and consequences of PEA’s abolition — with regard to the assets it is managing, the partnership and covenants it has entered into, and various operations that have to stop or be transferred when abolition becomes effective," the PEA officials told Mrs. Arroyo.

"Whatever the act of Congress would be, we shall be available to provide information, so that the legislative process takes its due course, guided by all available alternatives and enhanced by intelligent choices," the letter stated.

Taguinod also assured the President that pending the abolition, they would continue to perform their function as "responsible managers of PEA, governed by the principle of good stewardship."