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October 07, 2015, Wednesday
  • Ex-Makati Vice Mayor Ernesto Mercado admits the Reyes brothers are his friends. 6 hours ago |
  • DOJ to see if Ex-Makati Vice Mayor Ernesto Mercado violated provisions in the Witness Protection Program. 6 hours ago |
  • DOJ to release a second report on Mamasapano incident. 6 hours ago |
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  • House Speaker Sonny Belmonte urges Pres. Aquino to certify as urgent the bill on proposed P 3-T nat’l budget for 2016. 6 hours ago |
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  • Honasan asks UNA for more time to decide on whether or not he will agree to become Binay’s running mate. 6 hours ago |
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  • TESDA Head Joel Villanueva confirms he is running for senate. 6 hours ago |
  • Sandra Cam says Ex-Vice Mayor Ernesto Mercado had called up his business associates, Reyes brothers, while they were in Phuket. 8 hours ago |
  • Duterte announces the arrest of 2 suspects involved in the abduction of 3 foreigners & 1 Filipina from Samal Island. 8 hours ago |
  • Ex-Makati Vice Mayor Mercado says he will leave the country & seek asylum in Switzerland if Binay will win the presidency. 13 hours ago |
  • Sen. Escudero says the presence of many vice presidential bets will result in active discussions on platforms during the campaign. 13 hours ago |
  • Sen. Chiz Escudero sends his greetings to Sen. Bongbong Marcos who announced his entry into the vice pres’l race. 13 hours ago |
  • DFA Sec. Albert del Rosario tells China it should join the deliberations on sea disputes in the arbitral tribunal. 13 hours ago |
  • DFA Sec. Albert del Rosario tells China at UN Gen. Assembly to stop the use of coercion & intimidation in the West PH Sea. 13 hours ago |
  • MRT passengers say beep cards are not the answer to MRT’s perennial lack of train problem. 13 hours ago |
  • Three top generals in AFP promoted to next rank. 13 hours ago |
  • Sen. Bong Revilla allowed to undergo post-dental surgery. 13 hours ago |
  • Long lines of MRT commuters stretched from Trinoma Mall to SM North Edsa in QC on Tuesday morning. 13 hours ago |
  • Abu Sayyaf suspected to be behind the attempt to bomb a military camp in Jolo, Sulu. 13 hours ago |
  • Marines foiled an attempt to bomb a military camp in Jolo, Sulu on Monday night. 13 hours ago |
  • 6 persons face illegal possession of ammunition raps after being caught at NAIA supposedly with bullets in their baggage. 13 hours ago |
  • 2 injured in a collision between a truck and a car along Commonwealth Avenue in Quezon City. 13 hours ago |
  • Couple found dead inside their shanty in Payatas, Quezon City. 13 hours ago |
  • Ex-Makati VM Mercado’s new plunder case vs. Binay is in connection w/ the alleged questionable land deal between BSP & Alphaland Corp. 13 hours ago |
  • Ex-Makati Vice Mayor Ernesto Mercado files a fifth plunder case vs. VP Binay at Ombudsman. 13 hours ago |
  • COA Acting Chief Heidi Mendoza’s appointment as UN internal oversight office head will last for 5 years. 13 hours ago |
  • UN Sec. Gen. Ban Ki-moon announces the appointment of COA Acting Chief Heidi Mendoza as UN internal oversight office head. 14 hours ago |

Audit: PUP ‘wasted’ P575m on 2 buildings

By Merck Maguddayao | Oct. 04, 2013 at 12:13am
The Commission on Audit described as a “waste of government funds” the purchase of two dilapidated five-storey Government Service Insurance System (GSIS) Condotel-Hostel buildings in Manila for P575.7 million in 2007 by the Polytechnic University of the Philippines.

The result is that PUP is now paying for the structures for P1.6 million annually for 30 years and while already incurring rehabilitation cost of P101.2 million for Building A, COA records show in its 2012 Annual Audit Report of the country’s biggest state university.

PUP explained that in order to generate more income to augment its resources it purchased the property in Lepanto, Manila six years ago with a feasibility study stating that one of the buildings was intended to serve as an extension of the College of Technology to accommodate the projected increase in its enrollees while the other was to be converted into a University Dormitory primarily for students, faculty members, administrative employees and transients, according to the COA report.

COA stated that only two floors of Building A were utilized by the College of Technology and College of Engineering while Building B, which could not be utilized because it was not in usable condition when acquired, is left deteriorating and exposed to the natural elements which resulted in the waste of government resources.

As of 2012 yearend, records show that PUP has already paid GSIS a total of P84.15 million from March 2008 to December 2012, leaving an unpaid balance of P491.64 million payable over the remaining period of 25 years.

On the other hand, renovation and or rehabilitation costs for Phases 1 to 3 for Building A alone already amounted to P101.3 million, out of the contract cost of  P181.98 million for the conversion of the Condotel-Hostel into classrooms and dormitory, thus, bringing the total cost of the two buildings to P677.1 million.

During inspection, state auditors found out among others that the basements of both buildings were flooded because the area is prone to floods due to its proximity to Pasig River.

“Before making the purchase, PUP should have taken into consideration the physical condition of the buildings and should have thoroughly and meticulously studied whether or not acquiring them would be feasible, viable and advantageous to the University,” the 2012COA report released yesterday read.
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