Philippine Daily Inquirer GMA Network
   Sunday Jul. 18, 2004, Philippines      
Text Only | Article Index | SMS | WAP
back to main

INQ7 news on your PDA
Breaking News via SMS

Home >> News >> Breaking News >> Nation
Article Index | Breaking News | Nation | Editorial & Opinion | Lifestyle | Entertainment | INQ7Money | Metro | Regions | World News | Sports | Infotech | Global Nation
Marcos victims seek
accounting of funds

Posted: 8:36 AM (Manila Time) | Jul. 18, 2004
By Dona Z. Pazzibugan
Inquirer News Service

MARTIAL law victims who won a $2-billion class-suit against the estate of the late dictator Ferdinand Marcos in 1995 have demanded an accounting from the government of the $684 million in ill-gotten Marcos wealth recovered early this year.

Marie Hilao-Enriquez, head of a group of claimants, said the government had reneged on its promise to set aside P8 billion (about $150 million) from the recovered funds to compensate human rights victims under the martial law regime instituted by Marcos.
Enriquez said the latest word they received from the Department of Budget and Management was that all the recovered assets had been put into the National Treasury's "general fund."

According to Enriquez, the DBM said it could not allot any money to compensate the victims since Congress failed to pass a law on this.

Congress needs to amend the Comprehensive Agrarian Reform Law which states that all the recovered ill-gotten wealth of the Marcoses should go to land reform.

Enriquez said the human rights victims had grown tired of waiting for the government to fulfill its "moral obligation" to compensate the martial law victims from the recovered $684 million.

She feared that the recovered funds would disappear once placed in the treasury's general fund.

"The performance of the government in terms of the ($684 million) puts into question its sincerity to compensate the victims," Enriquez said in an interview.

"We're demanding an accounting of the funds. There must be money for the compensation," she added.

US Hawaii District Court Judge Manuel Real recently awarded another $40 million found in the Arelma Foundation account of Marcos to partly satisfy the $2-billion award.

Malacaņang said that while it welcomed Real's ruling, any compensation for the victims should come from the government.

"We doubt if the victims would get any compensation if the Arelma funds go to the government," Enriquez said.

To comment on this article using your Philippine mobile phone,
send INQ7 REACT to 2207 (for Globe subscribers) or 386 (for Smart subscribers).

printable version | e-mail this article | feedback

Peso-Dollar Rate

For the interactive youth
    Never-Ending Story


RP embassy under siege; release of hostage awaited

SONA bills package won't include Charter change

Military: Nothing to fear in joint RP-US terror training

Marcos victims seek accounting of funds




return to top

©2004 all rights reserved