MANILA – Nayong Pilipino Foundation disputed the allegation of graft in its lease contract for a $1.5-billion integrated casino-resort project in Entertainment City, Parañaque City.
Finding the contract “ridiculous,” President Rodrigo Duterte fired all members of Nayong Pilipino’s management and Board of Trustees.
The “70-year” property lease contract is “grossly disadvantageous to the government,” Presidential Spokesman Harry Roque told a press briefing in Malacañang on Tuesday.
Roque said Duterte started their Monday Cabinet meeting “by expressing his exasperation that corruption continues even in his administration.”
The President then “announced that he was sacking all members of the board and management of Nayong Pilipino,” said Roque.
“The papers that will formally terminate the entire management and the entire board of directors of Nayong Pilipino will be issued in due course,” the spokesman added.
On the same day Nayong Pilipino chair Patricia Ocampo said she “strongly [denies] that there was graft and corruption” in the contract.
“On the contrary, the lease contract with Landing International Development Ltd. is aboveboard and highly advantageous to the government and the Filipino people,” she said.
Ocampo clarified that the term of lease for Nayon Landing – which will include a theme park, convention center, hotels, and other commercial facilities – is for 25 years from the date of execution of the lease contract, not 70 years.
Monthly rentals cost P360 per square meter and the advance rental amount was placed at P827 million, she said.
In addition, Nayong Pilipino will receive an additional monthly rental equivalent to 10 percent of net profits from amusement park operations after taxes exclusive of value-added tax, said Ocampo.
“We negotiated what we believed then – and believe now – are most advantageous terms and conditions for the government and the people,” she said.
Meanwhile they will abide by Duterte’s decision to replace its board and management teams, said Ocampo.
“On behalf of the Board of Trustees of the … foundation, I would like to thank the President for having been given the opportunity to serve the Filipino people,” she said. “It is regrettable that it has come to this but we understand that we serve at the pleasure of the President.”
“We will continue to serve the President in our personal capacities as we firmly believe in the President’s fight to rid the country of graft and corruption,” she added./PN
