MANILA, Philippines - The Senate has given the Department of Justice (DOJ) until March 31, 2012 to finalize a study on a proposal to transfer the New Bilibid Prison (NBP) in Muntinlupa City outside Metro Manila.
 
Senate finance committee chairman Franklin Drilon said the government can earn billions of pesos from selling the 370-hectare property, which has an estimated value of P40 billion.
 
"This is an asset which is particularly idle," Drilon said after a hearing on the proposed 2012 budget of the DOJ. "This is needed in order that we an utilize our asset for the national welfare.
 
Meanwhile, Drilon said he will file a bill defining the parameters for issuing hold departure and watch list order by the DOJ.
 
He said the proposed measure will define who should have the authority to issue the orders, what it involves in terms of restrictions on the right to travel, and under which circumstances it can be lifted, among others.