In her column with the Philippine Daily Inquirer last January 30,2010, Economist Solita Monsod gave a factual explanation about the C-5 hullabaloo. Monsod’s basis are official documents and not just hearsay assertions. In the video below, Monsod concludes:
- Since there was already an ongoing project (the MCTEP) linking C-5 to the Coastal Road, it was totally unnecessary to build a second one.
- Which means that there was a waste of scarce resources. Instead of using only P2.6 billion of government funds for the first project, the government had to spend an additional P6.9 billion for the second, which practically duplicated the first, except for the additional length which happily for Senator Villar, traversed his properties.
- This unnecessary, wasteful project was certainly Villar’s idea. It is specious to argue that it is a DPWH project. As the DPWH feasibility study states (in black and white), both the CX-5 and the LPPLP were conceived and initially funded by Villar.
- Villar benefited tremendously from the second project. Certainly, his companies were paid significantly more per square meter for the road right of way (which were mostly bought from him). But that pales into insignificance compared with the tremendous increase in the values of his real estate holdings in the area—at least 50-52 hectares.