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President Arroyo has granted executive clemency to convicted former President Joseph Estrada.

In a statement read by Acting Executive Secretary Ignacio Bunye at around 5:30 p.m., Mrs. Arroyo said that the executive clemency restores Estrada's civil and political rights.

The grant of pardon, the statement added, was in view of the government’s policy of releasing inmates who have reached the age of 70, Estrada's commitment never to seek public office again and his being in detention for the last six and a half years. The bank accounts seized from the former President will not be restored.

The pardon takes effect upon Estrada’s acceptance of the terms of the executive clemency signed by Mrs. Arroyo this afternnon.

Estrada has been convicted of the crime of plunder by the Sandiganbayan and was sentenced to reclusion perpetua.

On Monday, Estrada withdrew his motion for reconsideration  from the Sandiganbayan to seek a “full and unconditional pardon” from the President.

In a three-page letter from Estrada’s lawyers addressed to Mrs. Arroyo, the former President informed her of his decision to withdraw his motion for reconsideration and his desire to apply for a “full, free and unconditional pardon.”

The Estrada camp has expressed optimism yesterday that the convicted leader would be granted pardon and released within the week.

“We are hopeful na makalalaya na siya at hindi aabutin ng (that he will be free before) Sunday, most probably Friday,” according to Ferdie Ramos, Estrada’s media officer.

Ramos spoke on the possibility of having Estrada released earlier after his lawyers withdrew his motion for reconsideration before the Sandiganbayan seeking to overturn his conviction on plunder charges.

Estrada, for his part, said he only wished it would be sooner.

This afternoon, he got his wish.

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