By Benjamin Cuaresma
MANILA — Senator Panfilo “Ping” Lacson has strongly denied allegations by Senator Alan Peter Cayetano that his wealth had mysteriously doubled, insisting that the increase reflected in his Statement of Assets, Liabilities and Net Worth (SALN) came from legitimate private business ventures after leaving government service.
In a statement posted Saturday, Lacson disputed Cayetano’s claim, clarifying that while his declared net worth had indeed increased, it was not the result of unexplained wealth but of lawful earnings from real estate transactions and private investments.
According to Lacson, his net worth rose from ₱50.7 million in his 2022 SALN—the year he left the Senate—to ₱244.9 million in his 2025 declaration.
He explained that the increase stemmed from legitimate business activities undertaken as a private citizen, including real estate deals and investments with business partners.
Lacson added that he paid the corresponding taxes on his earnings, citing income tax payments of ₱10.5 million and ₱2.8 million, as reflected in his income tax returns.
The veteran lawmaker issued the clarification after Cayetano, during a Facebook livestream, questioned the substantial increase in the declared net worth of both Lacson and Senator Erwin Tulfo, suggesting the figures warranted closer scrutiny.
Lacson rejected the insinuation and instead turned the spotlight on Cayetano, reviving his allegation that the former Senate president secured ₱6.79 billion in budget insertions under the 2025 General Appropriations Act.
He maintained that throughout his years in the Senate, he never sought or benefited from budget insertions and emphasized that he had consistently refused financial favors from lobby groups connected with infrastructure and public works projects.
Without presenting evidence in the statement, Lacson also suggested that investigations should instead focus on alleged irregularities involving infrastructure allocations and purported ghost projects, including those in Taguig City, Cayetano’s political bailiwick.
The exchange marks the latest escalation in the growing political feud between the two senators, which has expanded beyond questions over personal wealth to include allegations involving government spending, budget allocations, and the conduct of Senate investigations.
Cayetano has also accused members of the new Senate majority, including Lacson and Blue Ribbon Committee chairman Sen. Erwin Tulfo, of allegedly favoring the administration in the conduct of legislative inquiries.
ia/xf
