Presidential spokesperson Salvador Panelo has labeled Supreme Court Senior Associate Justice Antonio Carpio as “unpatriotic” for raising the possibility that China can seize Philippine gas fields if the country fails to pay back the loan for a project.
Panelo made the statement after Carpio last week said that Beijing could take the country’s gas reserves in Reed Bank if Manila is unable to pay its $62-million loan for the Chico River Pump Irrigation Project.
The magistrate cited a provision in the loan deal in which the Philippines supposedly waived its immunity to its patrimonial assets and assets dedicated to commercial use.
In an interview over ANC, Panelo said Carpio is appearing to be unpatriotic because he is effectively giving China an idea that will put the Philippines at a disadvantage.
“Siya ang lumalabas na unpatriotic dito… Parang tinuturuan niya pa ang Chinese,” Panelo said. “Wala namang loopholes, binibigyan niya pa ng loopholes,” he added.
“Justice ka ng Supreme Court, dapat protective ka nga sa ating interes, parang kumakampi ka doon sa kabila in a way,” he continued.
The Palace official then insisted that there is no collateral in the loan agreement. He said the deal merely allows the loan to paid off with revenue from natural gas yields.
“Yung natural gas na kinuha mo sa lupa, ‘pag ibinenta mo nang may share ang gobyerno, iyun ang kukuhanin nilang kabayaran sa utang mo,” Panelo explained.
Panelo also reiterated that the agreement is not onerous because the Philippines will be able to settle its debt anyway.
“Hindi ka magde-default kasi palaging kasama sa budget iyan,” he said. (Argyll Geducos)
