GOCC’s funds transfer not ‘pork barrel’–DOF

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GOCC’s funds transfer not ‘pork barrel’–DOF - Business Mirror

Quick Summary:

Recto defended the decision of the Department of Finance (DOF) to park idle funds of state-run corporations to the Treasury with the promise these would be used to fund government projects.

The question was posed after the DOF ordered P20 billion from the Philippine Health Insurance Corp.(PhilHealth) and P80 billion from the Philippine Deposit Insurance Corp.(PDIC) transferred to the Treasury.

Recto said the transfer was upon the instruction of Congress, under the Special Provision written in the Unprogrammed Appropriations in the 2024 General Appropriations Act (GAA).