Pharmally sweetheart deal warrants probe
Congressmen said the Senate blue ribbon committee’s investigation of the transfer of COVID-19 funds from the Department of Health to the Department of Budget and Management is meant to destroy the President.
Far from it. The President himself said he requested Michael Yang, a Chinese national and a long-time Davao businessman, to help Pharmally Pharmaceutical Corp., a newly organized trading company with a capital of only P625,000 and with no track record. The award of the P8.7 billion contract to Pharmally is a sweetheart deal. One who has P42 billion will not even think of talking to a new entity with only P625,000 capital, no declared income, and no track record.
The award to Pharmally is grossly disadvantageous to the government; it calls for a thorough investigation for violation of the Anti-Graft and Corrupt Practices Act.
In a similar situation, Malacañang would say: “If they have nothing to hide, they should let the hearings continue.”
Jose J. Ferrer, Jr., [email protected]
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