Villar opposes sale of RP assets in US

The chairman of the Senate foreign relations committee opposed yesterday plans of the Arroyo administration to sell the country’s real estate properties in the United States and Japan.

Sen. Manuel Villar Jr. said selling these assets is not in the nation’s long-term interests.

He said that there are other ways of raising funds to reduce the projected P230 billion budget deficit this year, the announced purpose of the planned sale.

The administration is planning to sell choice pieces of real estate that the country owns in Tokyo and Kobe in Japan and in New York and other US cities.

The properties in Japan were part of war reparations.

Last week, Senate President Franklin Drilon filed a resolution urging Villar’s committee to investigate the planned sale.

Drilon said the properties belong to the national patrimony and heritage and should therefore not be disposed of.

He said their alienation could raise a constitutional question.

Villar said he would soon schedule a hearing and invite concerned administration officials to shed light on the sale plans.

Other senators have expressed the fear that some corrupt officials are pushing for the sale so they can earn fat commissions.