Abad vows to include acquisition cost and fair market value of assets in his SALN

March 17, 2012 1:06 am 

MANILA, March 16 – Budget and Management Secretary Florencio Abad on Friday vowed to include in his Statement of Assets, Liabilities and Net Worth (SALN) for 2011 acquisition cost and fair market value of his assets after failing to do this in the past.

“In the interest of transparency, I will review my previous SALNs and include the acquisition cost and the fair market value, to the extent that the pertinent documents are still available. This will also be reflected in the SALN that I will file in April for year 2011,” he said in a statement Friday.

Abad said he religiously submits his SALN since his stint in Congress. He served as Representative of the lone district of Batanes from 1987-92 and from 1995-2004.

He was the Secretary of the Department of Agrarian Reform (DAR) from Jan. 4 to April 5, 1990 under the first Aquino administration.

Former President Gloria Macapagal-Arroyo appointed Abad to head the Department of Education (DepEd) from July 2004-July 15, 2005.

Abad said he declared the value of all his properties, investments and even artwork and books in his SALNs.

“I acknowledge though that with respect to my real properties, I have declared their value based on the assessed value, which has been the basis of the taxes I have paid against these,” he said.

The Budget and Management chief said his attention has not been called upon by the Civil Service Commission (CSC), the Office of the Ombudsman or the Commission on Appointments (CA) regarding the data he declared in his SALN. (PNA)

RMA/JS

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