Finance eyeing idle GOCC funds for public programs

📆 15/07/2024 14:25:00
📰 TheManilaTimes

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Finance Notícia

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BILLIONS of pesos in unused and idle funds of government corporations can be used to support various public programs, the Department of Finance (DoF) said.

BILLIONS of pesos in unused and idle funds of government corporations can be used to support various public programs, the Department of Finance said.In a statement on Monday, the DoF recommended using dormant funds held by government-owned and controlled corporations to support health, social services, and infrastructure projects that benefit the public and promote the country's growth.

The Finance department added that PhilHealth and other government-owned corporations' contributions enabled the Department of Budget and Management to release P27.5 billion for Covid-19 frontline service allowances, covering 5.04 million claims.Also, the Philippine Deposit Insurance Corp.

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