DBP, LBP: Ecija’s P800M PPSP loan already paid
PALAYAN CITY – Two state-owned banks have issued separate official documentation asserting that the Nueva Ecija provincial government has fully settled its two loan packages worth P800-million that were connected to the “Palay Price Support Program” (PPSP) of its Provincial Food Council (PFC).
Provincial Administrator Atty. Alejandro R. Abesamis said these separate certifications issued by the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (LBP) would prove that the provincial government is not mired in a huge P2-billion debt arising from the PFC’s “palay” procurement program as alleged by Governor Aurelio “Oyie” Umali’s political detractors.
“Walang katotohanan ang mga malisyosong paratang ng mga kalaban sa pulitika ni Gov. Oyie na nakalubog daw sa utang ang Kapitolyo dahil sa pamimili nito ng palay sa ilalim ng PPSP ng PFC at pamamahagi ng bigas sa pamamagitan ng Rice Distribution Program na bahagi ng ayuda ng pamahalaang panlalawigan dahil sa pandemiya,” explained Abesamis.
The provincial administrator made the assertions following the simultaneous release by both the DBP and the LBP of separate certifications on March 31, 2022, that the provincial government has already fully paid its two loans worth P750-million loan and P50-million related to the PFC’s PPSP.
Abesamis stressed that the alleged huge P2-billion amount of loan being floated by Umali’s political enemies was not the “actual loan” itself but rather the total amount of “credit line” extended to the provincial government by the banks.
“Ibig sabihin, pupuwedeng mangutang hanggang P2-bilyon ang Kapitolyo kung gusto nito, pero hindi ito ginawa,” he added.
Abesamis said the provincial capitol’s actual total loan committed to the “palay” procurement program only amounted to P800-million and that loan has been settled already in full, resulting in the issuance of separate certifications by the LBP and the DBP that the provincial government has “no outstanding principal balance in its term loan for the PPSP as of date.”
He added the governor does not want to stop the PFC’s palay-buying activities this dry season cropping harvest to be able to still help the local farmers, but the Commission on Elections (Comelec) did not grant his request for exemption from the election ban.
