How true are these statements? anybody care to comment?
3. Villar passed measures “to make Pag-IBIG Fund contributions compulsory and to increase housing investments with the SSS.”
“Pag-IBIG is a main source of funding of Speaker Villar’s companies.”
Honesty or corruption?
4. Villar “incorporated in the landmark Comprehensive and Integrated Shelter Finance Act, Republic Act 7835, the recapitalization of the NHMFC, and the amendment to the Agri-Agra Law to include housing investment.”
It “mandates banks to extend to housing loans not utilized for agriculture and agrarian-reform credit. In other words, loanable funds for agriculture and agrarian credit are to be re-channeled to housing, Speaker Villar’s business.”
Honesty or corruption?
5. Villar co-authored House Bill 11005, which “increased the capital of the NHMFC” and is the main source of funding of Speaker Villar’s companies…. President Estrada admitted that the National Home Mortgage and Finance Corp. is at present bankrupt.… Increasing the capitalization of a bankrupt government financial institution benefited Representative Villar’s housing companies.”
Honesty or corruption?
6. “All lands covered by CARP [Comprehensive Agrarian Reform Program] cannot be used for residential, agricultural, industrial or other uses unless a clearance, conversion or exemption for a particular property is first issued by DAR [Department of Agrarian Reform].”
“Speaker Villar’s companies are developing or have developed 5,950 hectares or almost 60,000,000 square meters of CARP land into residential subdivisions without the appropriate DAR issuances that would authorize such lands to be used for residential purposes.”
Honesty or corruption?
7. “Manuela Corp. applied for and was granted a loan of P1 billion by the SSS…. Another P2-billion loan would be syndicated with another government financial institution, the GSIS. Total syndicated loan from the two GFIs: P3 billion.
“Manuela Corp., a housing and realty corporation, is owned by the family of the wife of Speaker Villar. An indirect financial accommodation.”
Honesty or corruption?
via Honesty or Corruption? | Filipino Voices.