C-5 payment not during FVR's time

MANILA, Philippines - We refer to the 25 March 2010 issue of The Philippine STAR, particularly the news item which stated that during the Ramos and Estrada administrations, Bro. Mariano “Mike” Velarde “has admitted requesting the government to move the position of C-5 Road so that it would only cause minimal damage to his property” and that Velarde “earned P1.2 billion for road right-of-way on his 14 hectare Amvel Property.”

Please allow us to correct any misimpression that the foregoing report (which was unclear and incomplete on certain points) might have created.

According to Atty. Arsenio Yulo, then General Manager of the Public Estates Authority, the request of Amvel Property, made towards the end of the Ramos administration was not acted upon because of unresolved issues on the transfer of title over the property involved and some serious questions on the reasonableness of the price thereof — the resolution of which would take time, beyond the term of President Ramos.

In fine, all payments by the government to Velarde’s company for the acquisition of the aforesaid property were approved and made during the Estrada administration.

Thank you for giving us space in your prestigious newspaper. — Atty. NICK A. LAGUSTAN, FVR Spokesman