Alvarez: Floirendo could face plunder

Davao del Norte Rep. Antonio Floirendo Jr. could face a plunder complaint over a deal between the banana firm owned by his family and the Bureau of Corrections (BuCor).

As the House of Representatives began its probe on the joint venture agreement (JVA) between Tagum Agricultural Development Co. (Tadeco) and BuCor, Speaker Pantaleon Alvarez said yesterday if the House finds evidence of plunder it would recommend the filing of appropriate charges.

“If it is determined that the government lost at least P50 million from this deal, then that is plunder, since this involved a government official also in cahoots with other family members,” he said.

Alvarez estimates that Bucor is losing at least P106 million a year from the BuCor-Tadeco deal. He based his figure on what he described as the going rental rate for similar lands in Tagum, where Tadeco has transformed part of the Davao Penal Colony into a profitable banana plantation.

He said Tadeco is paying BuCor P5,308 per hectare per year for the more than 5,000 hectares covered by the JVA, plus P1.80 per box of export bananas.

Alvarez said the House would conduct one more hearing on the deal next week.

A resolution filed by the Speaker prompted the inquiry.

Floirendo, who is a member of one of the investigating committees, has inhibited himself from the inquiry “to obviate any perception of personal interference or influence on the outcome.”

He maintained the accusations against him and Tadeco were “baseless.” –