When IRA is eyed for graft…

By Ermin Garcia Jr.

IS LANDBANK operating like a private bank where profits come first before development? Or is it out to lend to the effort to hasten the bankruptcy of the country?

I ask these questions because LandBank has offered the provincial government the option to borrow P79.2 million against its future Internal Revenue Allotment receivables without need to identify the projects for which the funds would be used. This is a very dangerous proposition for both the government bank, the national government and the provincial government.

In this country where government officials only pay lip service to accountability and transparency, and where a judicial system refuses to make well-connected public officials account for their official acts, the projected bank loan will inexorably lead to bankruptcy of primarily the provincial government, if not the national government.

And the biggest victim will be Juan, you and I.

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A private bank, out to make legitimate profits, always looks into the viability of a project for which a bank loan is being made out. It checks the feasibility study, the background of the borrower’s accountable officials, and capability of the borrower to pay back its loan.

In this instance, LandBank has given the signal that it would not bother itself with how the provincial government will handle the funds since all it cares to establish is whether the province’s receivables from its IRA would be more than sufficient to cover the loan and the interests.

Going by this policy, is it possible that Landbank is now the Arroyo government’s lead agency in promoting massive and wide-scale corruption in all levels?

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I recall how easy and convenient it was for the Dagupan City government under then Mayor Benjamin Lim to secure two separate loans from LandBank – the first for the construction of the overpriced Malimgas market, the second for the overpriced dredging machine that had the wrong specifications to serve Dagupan’s interests.

Today, the Fernandez administration complains of lack of funds to implement social projects in the city, and the main culprit is the huge debt servicing that the city must undertake on account of those graft-ridden projects. But you wonder if the Department of Local Government is poised to make Mr. Lim and his cohorts accountable for those failed but overpriced projects? Not a chance.

I fear that the same scenario will happen once the Espino administration signs up for the P79.2 million loan. But this time, I see an even worse precedent because the plan is to secure the loan even without the benefit of a feasibility study or a mere listing of possible projects, and LandBank is reportedly ready to go with it without batting an eyelash!

Lilitsunin da lalamet si Juan ya taga Pangasinan!

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ANOTHER COVER-UP FOR 2004 FERTILIZER SCAM. But all is not lost.

The unexpected directive from Malacanang requiring all local government units to use their unpaid and deferred IRA for a new fertilizer subsidy scheme has thrown a monkey wrench to the plot.

While I agree with the mayors’ and Guv Spines’ sentiment that the national government has no business interfering in local governance, this timely distraction should make them pause and ponder how, indeed, they can leave a legacy using their deferred IRA.

By all means, thrash the new fertilizer subsidy scheme for its nothing but an indirect cover-up of the 2005 scam.

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A POTENTIAL GOLDEN COAST. The occasional appearances of the butandings in Lingayen Gulf are something worthy of further study. If finally proven that the gulf can offer these mammals a haven, then Pangasinan could be in for a good run on tourism. This could be a gold mine for coastal towns in the province.

This early, the Bureau of Fisheries office in Dagupan would do well to send an alert to all coastal towns about possible more sightings in the weeks and months ahead with the advisory that they could benefit a lot from their presence if communities band together  to protect  them.

The Cinderella story of the fisherfolk in Donsol, Sorsogon should be enough to make them realize what’s in store for them.

I would imagine that the first order of the day would be to ask communities to help put a stop to dynamite fishing in the gulf. The end to dynamite fishing will not only help fish to multiply at a faster rate but could encourage more butandings to take to the gulf as their home where they can merrily shake and roll for tourists’ entertainment on a regular basis.

Boatmen and guides in Sorsogon now swear they earn threefold as partners for tourism than as fishermen.

(Readers may reach columnist at punch.sunday@gmail.com. For past columns, click http://sundaypunch.prepys.com/archives/category/opinion/punchline/
For reactions to this column, click “Send MESSAGES, OPINIONS, COMMENTS” on default page.)

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