PCGG TO AUCTION OFF RECOVERED ASSETS

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THE Presidential Commission on Good Government (PCGG), the government agency mandated to recover the ill-gotten wealth of the Marcoses and their cronies, said it on Friday will auction off recovered pieces of real-estate property worth about P114 million in September this year. In a statement, PCGG Chairman Andres Bautista said the Department of Finance’s Privatization Council allowed the commission to proceed with the public auction of three pieces of recovered property whose titles are already in the name of the government. Bautista is confident that the three pieces of property will attract a number of bidders. He said they have prepared the terms of reference for the auction of these assets, which were recovered from former National Bureau of Investigation Director Jolly Bugarin. Bautista added that the assets include pieces of property in Metro Manila: Greenhills, San Juan City; Pasig City; and Diliman, Quezon City.

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