Amid scrutiny of Vice President Sara Duterte’s business interests, lawyer Paolo Panelo said they are not prohibited, noting that President Ferdinand Marcos Jr., former Vice President Leni Robredo, and former President Corazon Aquino also declared business interests in their statements of assets, liabilities, and net worth.
Panelo said that Duterte, who is accused of amassing unexplained wealth in her impeachment trial, is being singled out over her business interests when other officials had the same.
He said the SALN of Marcos showed him declaring business interest in a coffee farming and agriculture business, while Robredo’s 2022 SALN showed her declaring “minimal” shares of stock in Meralco and Rockwell Land.
He also said Aquino declared that she was a shareholder or investor of 11 to 12 corporations.
According to him, the Constitution does not bar the President or Vice President from having business or financial interest in a private company.
“Kahit bali-baliktarin mo ang Article VII, Section 13 ng Saligang Batas, walang sinasabi doon na bawal magkaroon ng business o financial interest ang President, Vice President, or cabinet members sa anumang pribadong kumpanya,” he said in a Facebook post.
“Kung malinaw na bawal, eh di sana sinunod ito ni President Cory Aquino, ang kauna-unahang Pangulo ng bansa sa ilalim ng 1987 Constitution. Ngayon, porket Duterte iba na ang timpla,” he added.
He contended that Article VII, Section 13 of the Constitution does not mention “business or financial interests” in a private company as among those prohibited.
The provision states that the President, Vice-President, and members of the Cabinet shall not, during their tenure, directly or indirectly, practice any other profession, participate in any business, or be financially interested in any contract with, or in any franchise, or special privilege granted by the Government or any subdivision, agency, or instrumentality thereof, including government-owned or controlled corporations or their subsidiaries.
Duterte’s business interests are under scrutiny in her impeachment trial, with the focus on her role as a member of the Board of Directors of Metro City Chow Foods Corporation and as a stockholder of Gencorp Industries Inc.
An official of the Securities and Exchange Commission said Duterte’s role in the Board of Directors meant she had a direct participation in the management of the corporation and that this could possibly be a violation of the Constitution.
Panelo is Duterte’s lawyer in her perjury case against Ramil Madriaga, but he is not part of her defense team in her impeachment trial.