HIGHLIGHTS: Senate hearing on 'overpriced' Makati parking building | November 6, 2014
MANILA, Philippines – The Senate Blue Ribbon committee continued its investigation on the alleged overpricing of Makati City hall parking building.
After months of investigation, Vice President Jejomar Binay's camp insists that the parking building was contracted correctly and all processes were legal.
In a radio interview, his spokesman Cavite Governor Jonvic Remulla insisted the building is not overpriced, reiterating claims by building contractor Hilmarc's Construction Company that based on cost per square meter, the building cost is comparable to other government projects.
Binay was invited to face the panel on November 6, with the committee asking him to prepare himself for a 6-hour "grilling," yet Binay skipped the hearing.
Watch Senator Teofisto Guingona's comment on the vice president's absence below.
Based on figures from the National Statistics Office, the average construction cost of the Makati City hall parking building should have been only P7,691/sqm. This means that the building was over 6 times the official cost.
Former vice mayor, former Binay ally Ernesto Mercado, said the Binays received 13 % kickbacks from the infrastructure projects. He alleged that Binay had raised over P1 billion ($22.7 million) through kickbacks for the 2010 elections, funding the Vice President's campaign, as well as the campaigns of his children.
The alleged overpricing of Makati City hall parking building has branched out into other corruption allegations against the Vice President, including possession of "Hacienda Binay," a 350-hectare farm. – Rappler.com