Press Release
June 21, 2007


Senator Richard J. Gordon, Chairman of the Senate Committee on Government Corporations and Public Enterprises, remarked that the paid statement of the incumbent Board of Directors of Philcomsat Holdings Corporation (PHC) insinuating that the Senate is protecting the Marcos cronies in the Philcomsat row, among other things, is an irresponsible and desperate attempt of disgruntled PHC directors and officers to cover up their poor performance in managing PHC where the national government holds a substantial interest.

According to Senator Gordon, the Senate Committee Report does not seek to protect any individual nor does it even remotely suggest it. The Committee Report was a product of a long series of Senate hearings and investigation - 11 public hearings and 1 executive session to be exact, where all the parties were afforded the opportunity to be heard. It was merely a compilation of the findings as a result to the Senate investigation.

As can be gleaned, the Senate investigation and Committee Report focused on the accountability in the management of the governments substantial interest in Philcomsat by the Philippine Commission on Good Government (PCGG) which was patently shown to have been grossly mismanaged and dissipated from the evidence presented before the Committee.

Senator Gordon upholds the principle under the Constitution that public office is a public trust. He seeks to continue pushing for the passage of his bill on the accountability of GOCCs which he previously filed as Senate Bill No. 2222 in the 13th Congress.

Senator Gordon also noted that most, if not all, of the arguments made in Philcomsats statement are a mere rehash of arguments set forth before the Supreme Court which the High Tribunal simply brushed aside in light of the public interest involved in inquiries in aid of legislation which is not only intended to benefit Congress but also the citizenry.

Senator Gordon said that the government nominees and the private individuals involved in the management of PHC should stop bickering and start focusing on their work, because it is in everyones interest, including the governments, to see this corporation succeed as did its parent corporations, POTC and Philcomsat, in the past.

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