Heads to Roll at PLDT, Says ‘Disappointed’ MVP (Inquirer)

• “Certainly, we’ve taken a knock on our reputation. We pride ourselves on governance, on disclosures, and we’re gonna get a knock. We have a job in trying to recover our credibility.” Thus said Manuel V. Pangilinan (MVP), who chairs PLDT Inc., after he detailed in an exclusive to the Inquirer how he learned of initially as much as P130 billion in undocumented purchase orders made in the last four years at the country’s largest telecommunications firm.On Friday, the company said the latest estimate of these questionable deals — which it described as “budget overruns” — had been trimmed to P48 billion, representing 12 percent of PLDT’s P379-billion capital spending program of the last four years.

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