Soliman denies involvement in PEACE bonds

MANILA, Philippines - Social Welfare Secretary Corazon “Dinky” Soliman said yesterday she was no longer connected with the Caucus of NGO networks (Code NGO) when it got involved in the controversial P10-billion Poverty Eradication and Alleviation Certificate (PEACe) bonds.

Soliman, however, said she is willing to face any investigation on the transaction that allegedly allowed the organization she formerly headed to earn P1.4 billion in commissions from the government bond flotation in 2001.

Cagayan de Oro City Rep. Rufus Rodriguez and Abante Mindanao party-list Rep. Maximo Rodriguez recently filed House Resolution 58, which seeks an investigation into the controversy.

“I welcome the investigation so that the truth will come out... I’m willing to participate. It is a venue for me to explain. But I’m no longer part of the organization when the transaction happened,” Soliman said in a phone interview.

Soliman said her successor, Marissa Camacho-Reyes, sister of former Finance secretary Isidro Camacho, and Dan Songco, Code-NGO’s former executive director, “were the ones who negotiated” the PEACe bonds.

“I have no knowledge of this transaction,” she stressed.

In the resolution, the lawmakers said those involved in the issue, including officials of the Department of Finance (DOF), the Bureau of Treasury, Code-NGO and other individuals, entities and corporations who could shed light on the issue should be summoned by the House to explain what happened to the 10-year zero coupon Treasury notes that had been auctioned off by the Bureau of Treasury.

Part of the windfall reportedly went to the Peace Equity Access for Community Empowerment (PEACE) Foundation headed by Soliman.

Soliman was part of the so-called “Hyatt 10,” a group of Cabinet secretaries who called for the resignation of former President Gloria Macapagal-Arroyo at the height of the “Hello, Garci” scandal.