BANTAY Points Out ‘Conflict of interest’ in the Aquino III Cabinet (tags)
The BANTAY PILIPINAS based California said today that President Benigno Aquino lll’s decision to pick executives from big business for key Cabinet posts has placed his administration in potential conflict-of-interest situations, particularly in state-regulated enterprises, such as power, water, telecommunications and toll roads, the EPCC noted Tuesday. The BANTAY PILIPINAS said the big business appointments were a growing public concern because they were identified with four of the most influential business conglomerates in the country – the Ayala, Lopez, Aboitiz and Metro Pacific groups – to positions with powers to make or unmake business empires. The appointees mentioned were Transportation Secretary Jose de Jesus, Public Works Secretary Rogelio Singson and Energy Secretary Jose Rene Almendras. De Jesus used to be president of Meralco (where the Lopez group and Manuel V. Pangilinan of Metro Pacific are controlling partners) and former executive vice president of Philippine Long Distance Telephone Co. (headed by Pangilinan). Singson is a former president of Lopez-owned Maynilad Water and former director of Metro Pacific Investments Corp. Almendras is a former president of Manila Water and Cebu Holdings Inc. (both owned by the Ayala group) and former treasurer of the Aboitiz group.