Pag-IBIG pampered Globe Asiatique
| BLURBAL THRUSTS |
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| Louie Logarta |
During its lengthy discourse in its Sunday edition on the shameful multibillion-peso scandal that is the Globe Asiatique-Pag-IBIG housing deal, the broadsheet The Manila Times which is published by our good friend Dr. Dante Ang had one glaring omission that astounds.
It is the fact that former Vice President Noli de Castro and incumbent Marikina Rep. Miro Quimbo were both at the helm of the state housing agency when this sorry excuse for a real estate developer Globe Asiatique Realty Holdings Corp. was permitted to “take out” some P6.6 billion in loans and other forms of financial support for its ambitious Xevera and Hanjin housing projects in Pampanga.
De Castro was appointed as the country’s “housing czar” in 2004 by President Arroyo, and as such supervised the Pag-IBIG Fund and other related companies, a position he held until June 30, 2010.
On the other hand, Quimbo was the president and chief executive officer of the Fund, since the time of Secretary Michael Defensor who preceded De Castro, until his resignation in 2009 reportedly to pursue a political career..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110324com4.html
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