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MANILA, Philippines – The Department of Finance (DOF) seeks the return of some P33 billion “parked” in the coffers of the Philippine International Trading Corporation (PITC) to the national government.
This was said by the minority leader in the Senate, Franklin Drilon, who was given a copy of the letter sent by Secretary Carlos Domínguez to Budget Secretary Wendel Avisado.
In the November 25 letter, Domínguez asked Avisado to recommend that President Rodrigo Duterte issue a directive for the immediate return of the funds in question.
“[W]We would like to request endorsement from the President by the Department of Budget and Management (DBM) for the return to the Treasury Office (BTr) of the various transfers of funds to the PITC by certain government agencies, in accordance with the guidelines of DBM on the matter, ”the letter read.
It was Drilon who previously marked about P33 billion “parked” in PITC bank accounts at the end of 2019. As of October 31 this year, PITC 32.6 billion remains in the hands of PITC, according to the letter.
Apart from Drilon, other senators also requested the return of the amount to the government coffers.
“I am pleased that the DOF is listening and acting quickly on the issues we raise regarding this huge sum of money parked in the PITC. These funds will go a long way, ”Drilon said in a statement Thursday.
The minority leader cited the P73.2 billion that would be needed to purchase COVID-19 vaccines for the Philippines.
“With the return of these P33.3 billion, we now have half of the P73.2 billion needed for the acquisition of COVID-19 vaccines,” he added.
Previously, Drilon also believes that the PITC is allegedly being used as a “pawn” by government agencies to evade obligations to return unspent funds and avoid procurement-related liabilities.
According to Drilon, fund transfers to the PITC amount to P7 billion and only P15,000.
“It is clear that PITC wants to keep the money in bank accounts. No amount of denials and excuses can explain this. This is murky, tortuous and criminal, ”he continued.
“The alibi that there are no providers will not apply here. Where in the world can’t you buy coats and ties, tires, boots, desktops? added.
He was referring to items allegedly purchased by the Philippine military in 2007 but not delivered.
“There are no excuses, just return the money,” Drilon said.
“If these funds have been there, doing nothing for more than a decade, in the PITC accounts, it means that government agencies do not have an immediate and overriding need for these projects. It is fair and just that it is returned to the national coffers immediately, “he added.
/ MUF
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