Utang Ng Mga Lopez Sa Bangko Ng Gobyerno Na Umabot Ng Php1.6 Billion, Pa-Iimbesitagahan Na

The controversial franchise application of Kapamilya Network was finally concluded on July 10, 2020, after 13 exhaustive and comprehensive congressional hearings. On that day, the House of the Representatives Committee on Legislative Franchises denied the fresh 25-year franchise application of the Kapamilya network.

Many netizens and also Kapamilya employees felt sad and enraged over what happened to the media network as more than 11,000 employees will lose their job on the closure of the network amid the pand3mic.

But after the Congress denied the network's franchise, the owner of ABS-CBN, the Lopez family will face another problem.

Photo from Google

Photo from Google

Photo from Google

According to a report from Politiko, Davao City Representative and Presidential son Paolo Duterte, ACT-CIS Party-list Rep. Eric Yap, Dumper PTDA Party-list Rep. Claudine Diana Bautista, Anakalusugan party-list Rep. Mike Defensor, Sagip Party-list Rep. Rodante Marcolete, and Cavite Representatives Jesus Crispin Remulla and Elpidio Barzaga teamed up to recall the Php1.6 billion debt of the Lopez to the Development Bank of the Philippines (DBP).

Way back in 2011, journalist Neal Cruz revealed the alleged debt of the Lopez to DBP. The company allegedly used the debt to the companies connected to the Lopez including the Benpress Holding (Php157-M), Bayantel (Php591-M), Central CATV Inc (Php207-M), and Maynilad Water (Php710-M). The Php1.6 billion dept was allegedly written off by the DBP in favor of the said company.

Photo from Google

Photo from Google

Photo from Google

According to the legislators, the money could have been used by the government to address the cris!s caused by C0V1D-19.

Upon bringing up this issue, the Lopez family might face another problem again.

The congressman resolution stated,

"The details of this condonation or write-off are as yet unknown to the public at large, despite the fact that this particular transaction could have cost the Filipino people Php1.6 billion."