Monday, July 15, 2013

Public funds for sale

It has been going on for years. The expose by the Philippine Daily Inquirer just proved what has been the practice as far as disbursing pork barrel funds is concerned. Fact is, pork barrel funds are always "for sale"

Many politicians commit their 70 million pesos a year "pork barrel" to big time contractors, who then pay them " in advance". Usually, this happens prior to an election. A winnable candidate sells his pork barrel in exchange for electoral funds. When a candidate and this big time contractor arrives at a deal, usually, the first year pork barrel is the one committed to the contractor. Meaning, the contrator or big time funder is the one who dictates what projects they will do to cover the 70 million pesos.

This contractor then "resells" the committed funds, assigning these to prospective bidders and makes a big interest. ( mind you that the committed 70 million pesos is replaced not by an equal amount but by a lesser amount. Some politicians sell their 70 million peso pork barrel funds five million pesos less, to allow some profit margin for the electoral funder who risked his money for the politician.

Sources say, janet lim napoles is also involved as the biggest contractor in the business of selling and buying pork barrels. She became very powerful because she practically commands the purse of several Congressmen.

This has been going on for years and many businessmen profitted from selling and buying pork barrel funds. Fact is, pork barrel has already been a "traded commodity" since 1988 elections.

Now, the question really is, who are these contractors who trades pork barrel. You will be surprised, very surprised.....