Saturday 16 December
Powered by Ajaxy
Nov 10, 2017 @ 18:25

Diokno points out the problem with P200B Malampaya fund

 

It’s a sizeable amount which cannot be easily touched.

As much as the Department of Budget and Management (DBM) knows how sizeable the controversial Malampaya Fund is, it cannot simply dip its fingers into the amount for use in the government’s normal operations.

In fact, DBM Secretary Benjamin Diokno described it as “difficult to access and reuse,” citing legal restrictions that cover the Malampaya fund.

“[W]e have a fund that is lying idle there. We cannot use it,” Diokno said, noting that Congress needs to amend the law covering the Malampaya Natural Gas project before the funds can be tapped and disbursed for other uses.

Still, Diokno assured that the DBM will “cooperate” with any investigations into the release and use of the P200-billion fund in question.

Tags: , , , ,

Related Stories
Congress will have to decide how to use the Malampaya fund as it can only
The Department of Energy (DOE) seeks to utilize the Malampaya fund in energy infrastructure development
MANILA, Philippines – There will be enough funds for the next administration once it takes


 

Trending News

Recommended on sister sites

Copyright © 2017 Bilyonaryo - bilyonaryo.com.ph.