Sale of Imelda jewelry collection stopped

June 2, 2010   MANILA — President Arroyo has ordered the Presidential Commission on Good Government (PCGG) to hold off any further moves leading to the auction of the jewelry collection worth millions of pesos of former First Lady Imelda Romualdez Marcos. The order was coursed through Commissioner Ricardo Abcede by Executive Secretary Leandro Mendoza who said President Arroyo is now leaving it to her successor to decide on the final disposition of the Imelda Marcos jewelry.

While Mendoza noted that much headway has been made by PCGG towards the jewelry auction, he said time has run out on the process, and the issue is best left to the incoming administration. The jewelry was confiscated by the government after the February 1986 EDSA Revolution and has been kept at the Central Bank vault for more than 20 years.

Malacanang is amenable to the sale of the collection even after the present administration’s incumbency but expects from Presidential Commission on Good Government (PCGG) full adherence to procedures in disposing such assets. “There are procedures for this – what’s crucial is that are these followed?,” presidential spokesperson Ricardo Saludo said Thursday during a Palace briefing.

He believes adhering to such procedures will help promote transparency in transactions covering the sale. Saludo issued the reminder as PCGG is set to dispose the Marcos jewelry collection. Several international auction houses are reportedly ready to examine this collection soon.

Proceeds from the collection’s sale aim to help improve the lives of agrarian reform beneficiaries (ARBs) nationwide. The Department of Justice will monitor developments on the planned sale, Saludo noted. Malacanang assured of PCGG’s free hand in deciding on procedures for the sale.

“We’ll respect whatever PCGG rules are on disposing the assets,” Saludo said. He said it would be good if the PCGG can dispose the collection as soon as possible, so that the ARBs can already avail of the proceeds from this sale.

on photo – Former First Lady Imelda Romualdez Marcos