A private port operator in Negros Occidental has filed charges against executives of a state-run bank over the alleged non-release of a project loan worth P180 million.
In a statement, the Manapla Port, Stevedoring and Arrastre Corporation (MPSA) filed a complaint against four officials of the Land Bank of the Philippines (LBP) for violating the Anti-Graft and Corrupt Practices Act, penalized under Section 3 of Republic Act 3019, false testimony in civil cases, and conduct prejudicial to the best interests of public service.
Dave Sarrosa, an investor at MPSA, said the LBP allegedly did not release their loan worth P180 million.
Sarrosa added that they were forced to file criminal and administrative complaints in the interest of justice because the LBP’s action is deemed “sabotage.”
“Actually, we are not after compensation. What we want is justice,” he said.
Sarrosa said the company spent more than P60 million on the port’s construction, including the required equity of P20 million.
“We don’t have any choice now. We will continue spending our personal money to finish it, and let the port operations be started as scheduled on April 1,” he added.
Despite receiving a notice of loan approval on October 23, 2023, Sarrosa said MPSA failed to secure the loan.
Records show that MPSA’s loan application was submitted to LBP in January 2022.
Rey Gorgonio, one of the lawyers for MPSA, said they expected the loan’s release on March 3, 2024, but that did not happen.
The notice of loan approval expired in October 2024.
Gorgonio added that the port infrastructure itself remains incomplete, with an adjacent yacht club still under construction.
Meanwhile, the LBP claimed that the delay was due to MPSA’s alleged failure to secure a duly-approved foreshore lease agreement (FLA) for the area occupied by the port.
The FLA, a document issued by the Department of Environment and Natural Resources, had not been provided, resulting in the lapse of the one-year validity period of the loan agreement since its approval last October.
The MPSA said the Manapla Port is seen as a key boost for the Negros Island Region, with the potential to drive tourism and support the sugar industry.
“It will serve to link up the new maritime route in Panay through Ajuy and Concepcion ports to Manapla Port,” the press release said.
“Maritime transport improves the trade and contacts between international countries as well as increases the income of our people through the growth and development of tourism in the country,” it added.
They expect the project to generate significant annual tax revenue and create jobs for locals in Negros Occidental’s Manapla town, as well as the cities of Cadiz, Sagay and Victorias.
“Livelihood projects will help people make a living by providing employment, business opportunities, and other support to improve the well-being of the community and sustain their living conditions for a better future,” Sarrosa said./WDJ