News Release

MIRIAM: WHO’S FUNDING JOEY?

“He lost the bid, but he is not even trying for a rebidding. Instead, he is spraying automatic gunfire on the First Gentleman, Atty. Jose Miguel Arroyo, Comelec Commissioner Benjamin Abalos, and DOTC Secretary Leandro Mendoza. This is exceedingly strange,” Santiago said.

Santiago said that she “smells a plot” intended to scandalize President Arroyo, and to create intrigue between her and Jose de Venecia, Jr., Speaker of the House and father of the accuser.

“The political noise has reached a very high decibel level. Producing that kind of noise is very expensive. So where is the money coming from?” she said.

Santiago said that it is possible that the accuser, Joey de Venecia is funded by a group that wants to oust President Arroyo before 2010 and to install someone else.

“The Supreme Court has ruled that he who alleges must prove. We have to conduct a background check on the accuser. Like a good detective story, the Senate hearings should be able to determine what his motive is, and who is funding him, if any,” the senator said.

On the alleged participation in the transaction by the First Gentleman, Santiago said that if it is not satisfactorily explained, it might be difficult to get Senate approval on the 2008 budget on which the Senate is already conducting public hearings.

“That’s got to be the shocker of the month. Someone is telling a very big lie. Which party is peddling the lie will hold the key to Senate approval of the loan,” she said.

Santiago, Senate finance committee vice-chair, said that the NBN project can be completed only with congressional approval through next year’s budget.

“The public officials involved should stop acting as if this were a done deal. It is not, and it is Congress which will have final say,” she said.

Santiago explained that congressional approval is necessary, since the NBN project would create a future debt for the country, which would require payment by the national treasury.
Santiago said that there are five steps that should be taken for the project to be considered completed.

First, the budget department has to issue a FOA, meaning Forward Obligational Authority.

Second, the Office of the President has to issue full powers to the finance department.

Third, the finance department, on behalf of the Philippine government, has to enter into the loan agreement.

Fourth, the Monetary Board has to approve the loan.

Fifth and finally, Congress has to approve the loan through the 2008 budget or the Annual Appropriations Act, in the exercise of the constitutional power to approve the budget prepared by the Office of the President.

Santiago said that her finance subcommittee will conduct a public hearing on the budget for the Office of the President this Friday, September 21, and she will ask the Malacañang representative if the proposed budget includes anticipated payments for the foreign debt that the NBN loan will involve.
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