PEP Coalition

We fight for truth, justice and good corporate governance!

Aid for other education plan holders sought

Manila Bulletin
June 1, 2006

Senate President Pro Tempore Juan Flavier and other senators suggested yesterday that former Manila Rep. Mark Jimenez should extend financial assistance not only to parents charged with libel by Pacific Plans Inc. but also to clients of College Assurance Plan (CAP) whose children could not go to school because CAP, another pre-need firm, is similarly financially crippled.

The senators issued this statement after Jimenez donated last week R50 million to enable plan holders to send their children to school this semester.

“Mabuti yon, basta makatulong. We welcome that… As long as he is able to help people in need, okay lang,” Flavier said.

Opposition Sen. Sergio Osmena II said that any act of generosity to alleviate the plight of pre-need victims is all alright but Jimenez should also give to CAP educational plan holders.

Since government appears to be taking too long in helping unfortunate plan holders of bankrupt pre-need firms, Sen. Richard Gordon said “it is okay that somebody is helping the victims.” “Mabuti nga at may kumakalinga sa kanila because the government seem to have forgotten about them,” he said.

Senate Minority Leader Aquilino Pimentel and Sen. Manuel “Mar” Roxas II had earlier pressed the Securities and Exchange Commission (SEC) to take over the distressed pre-need companies to protect the interest of contributors.

Roxas said the SEC had created three fact-finding committees to look into the operations of distressed pre-need companies but the SEC has yet to act on their recommendations.


June 1, 2006 - Posted by | Philippine Newspapers/Web News | , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: