Remulla's new rules on SALN access: 'One step forward, five steps back'

Zaldy Co was already a multibillionaire before entering politics. In 2019 when he became congressman, Co was worth P4.1 billion, richer than senators Cynthia Villar and Manny Pacquiao, his lawyer claims.

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There's a way to prove that. The lawyer should present Co's statement of assets, liabilities and net worth.

Every official is required to file a SALN upon joining government, each year thereafter and on leaving. Noncompliance warrants suspension or removal. That's how strict the 1989 SALN Law is Code of Conduct and Ethical Standards for Public Officials and Employees.

In 2020, when their SALNs were last released, Villar had P3.87-billion and Pacquiao P3.18-billion net worth.

Co's wealth grew by P900 million since 2019. He's now worth about P5 billion. But that's no indication of crookedness, the lawyer says.

Of course not. One's assets, like real property, bank deposits, stock investments and jewelry can appreciate.

SALNs are tracker documents. They show if an official stays on or strays from the straight and narrow. More so if examined alongside income tax returns, SEC or Bureau of Domestic Trade submissions, declarations of election contributions and expenditures and the like.