Lawmaker to push inquiry on BSP deal with realtor

MALOLOS CITY – A Bulacan lawmaker is considering the possibilities of initiating a congressional inquiry on the alleged anomalous arrangement on a huge tract of land in the province between the Bangko Sentral ng Pilipinas (BSP) and a big time real estate developer in the country.

“I will look into it, and see how it will go,” Rep. Lorna Silverio of the third congressional district of Bulacan told The STAR in a telephone interview on Sunday.

Earlier, Ramon Angelo, the president of Waste Custodian Management (Wacuman) and private proponent of the largest sanitary landfill at Sitio Tiakad, Barangay San Mateo, Norzagaray town wrote Silverio a letter asking for a congressional investigation.

Angelo told Silverio that he is planning to shutdown his sanitary landfill project in an 18-hectare land in Norzagaray town due to “unusual arrangement between the BSP and a certain big time real estate developer, wherein a huge tract of land, a non-performing asset, foreclosed for sometime, auctioned and was offered for sale, preserved and reserved for the latter to re-purchase at any given time.”

Angelo said that Rene Carreon, the assistant governor for the monetary division of the BSP described the unusual arrangement as a case of “friendly foreclosure.”

In his letter to Silverio, Angelo said, “the huge losses on the part of the government, as a result of this kind of special deal or accommodation are quite unfair to the suffering society.  We therefore ask, what formula under our banking laws was applied to this particular account, whose land value was absurdly higher 10 years ago than today’s actual land assessment and zonal value – from P240 per square meter to its present assessed value of P6.

Angelo added, “I have no intention to discredit the involved parties; neither do I wish to create political and financial destabilization scenario.  I am just invoking my rights as a citizen and as legitimate investor, who only wish to serve my country through the enhancement of our environment principles.  Unfortunately, I have become a victim of unacceptable and unbelievable circumstance.

During the telephone interview with Silverio yesterday, she said that she tried to help Angelo in the establishment of his project.

She also said that she even accompanied Angelo to Secretary Eduardo Ermita to follow up his request for an executive order submitted since 2006.

“We are also looking at the possibilities of working out with an executive order for the sanitary landfill project to push through.

She said that the giant sanitary landfill can address the garbage crisis that Metro Manila is facing.