Ochoa: PCGG remits P100-M to national treasury

Press Release
March 4, 2011

MALACAÑANG, Manila  –  Executive Secretary Paquito N. Ochoa Jr. said on Friday the Presidential Commission on Good Government (PCGG) had remitted a total of P100 million to the Bureau of Treasury under its six-month-old leadership.

Citing a report by PCGG Chairman Andres Bautista to President Benigno Aquino III, Ochoa said the amount turned over to the National Treasury was for the account of the Comprehensive Agrarian Reform Program (CARP), which funding, under the law, is sourced from cash and proceeds from recovered ill-gotten wealth amassed by the Marcoses and their cronies.

The Executive Secretary noted that the PCGG’s remittance came from the various accounts of the commission that were no longer subject of any pending litigation.

“The Commission is now led by a new batch of brilliant lawyers who comprise a young, dynamic and courageous team. Taking cue from this positive development, we are confident that our pursuit of plundered wealth, stashed away everywhere and anywhere in this country and the entire world, can be recovered and be returned to the collective purse of our country,” Ochoa said.

According to Bautista, the money was remitted to the Bureau of Treasury on February 28, in time for the commission’s 25th anniversary celebration, and came from certain escrowed deposit accounts, “which upon our review are not subject of any pending cases and as such may now be rightfully remitted to the National Treasury.”

“A new day has definitely dawned on the PCGG, and we have seen the signs of a reinvigorated commission which has recaptured the organization’s original vision and energy for good governance,” Ochoa said.