Speaker Cayetano: Coup against me could be linked to PSALM probe

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Speaker Alan Peter Cayetano believes that the group of Congressman Lord Alan Velasco and possibly, even Velasco himself, wanted his head after the Speaker initiated the probe for the anomalous debt claims amounting to 100 million pesos being pursued by the Power Sector Assets and Lialibilities Management Corporation or PSALM.

Cayetano says members of Velasco’s staff were reportedly seen harassing witnesses for PSALM. Controversies now surround PSALM after it claims that six private power firms owes the state power agency at least 95.3 billion pesos in debts for the operation of various power plants that these firms took over from the National Transmission Corporation.

Velasco is reportedly blocking the hearing due to his close links with owners or influential people in the power sector.

Coup rumors swirled after several of Velasco’s political allies went the rounds to entice supporters of Cayetano to vote against him when Congress opens in May. Velasco and Cayetano had an agreement which Cayetano agrees to step down as Speaker after one and a half years. Both are political allies of President Duterte.

Velasco is reportedly close to Senator Bong Go and presidential daughter Sara Duterte whose husband, Atty. Mans Carpio went to the same school as Velasco’s. A son of former Supreme Court associate justice Presbyterio Velasco, the young Velasco and his mother are both involved in Marinduque politics.

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