Kiko wants Landbank to admit lapses in P457-M cash withdrawals for flood projects

Senator Francis "Kiko" Pangilinan on Tuesday called on the state-run Land Bank of the Philippines (Landbank) to own up to possible mistakes, following its release of P457 million in cash in just two days to a contractor involved in the flood control scandal. 

In his manifestation during the plenary session, Pangilinan slammed the statement of Landbank on Monday that "all transactions in question were carried out strictly within the bounds of Philippine banking laws and regulations." 

"I find it very disturbing, to say the least, that they would say [that] after. Maybe they are afraid of liabilities, maybe they are afraid that they may have had negligent behavior or conduct and therefore would not want to own up. But now is the time to own up, now is the time to have the truth out. Kung sila ay nagkulang, aminin nilang nagkulang sila para hindi na maulit ito (If they had shortcomings, they should admit it so that these don't happen again)," the senator said.

"If we're going to use legalese language in order to gloss over the fact that no matter how you look at it—two days, cash transactions, P457 million. How can that in any way be unsuspicious or regular?" 

GMA News Online has requested comment from Landbank, but it has yet to respond as of posting time.

During the Senate blue ribbon committee hearing on Thursday, senators grilled Landbank for allowing SYMS Construction owner Sally Santos to withdraw massive sums—including P180 million, P141 million, P299 million, and P65 million—all in cash and all within single days.

Landbank, in response, denied irregularity on transactions related to flood control projects of the Department of Public Works and Highways (DPWH), saying these were "above board" and in line with banking regulations.

The bank said funds deposited in the account of government contractors originated from the Department of Budget and Management (DBM), and were released in line with the General Appropriations Act as passed by Congress and disbursed by the DPWH.

Pangilinan, however, was unsatisfied with the statement, urging Landbank to have a "mindset for the people, for the Filipinos." 

"Ang tanong—ibig sabihin ba, dahil walang mali sa paglabas ng P457 million cash sa dalawang araw ay mauulit ito? Puwedeng gawin ulit dahil sumunod sila 'faithfully' and 'strictly' sa lahat ng banking laws and regulations? We beg to disagree. Dapat sana sinabi nila sa kanilang statement, 'Maghahanap kami ng paraan para hindi na mangyari ulit ito,'" he said. 

(The question is—does this mean, since there was nothing irregular with the release of P457 million in cash in two days, this will happen again? That it can be done again because they followed 'faithfully' and 'strictly' all banking laws and regulations? We beg to disagree. They should have said in their statement that they will find a way to prevent this from happening again.) 

"Tandaan po natin, pera ito ng gobyerno, ng taumbayan. Pera na kinubra sa kanila o inuutang sa ngalan nila. Pera na dapat napupunta sa pagkain, edukasyon, kalusugan, at kabuhayan," he added. 

(Let's remember, this is the government's money, the people's money. Money that is lent to them or being lent on their behalf. Money that should go to food, education, health, and livelihood.) — VDV, GMA Integrated News