News Formal

Finance eyeing idle GOCC funds for public programs

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 16 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 92%

Finance News

Eyeing,Idle,GOCC

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

DOF to support initiatives of UK, UN-funded climate finance group | Reine Juvierre S. AlbertoTHE Department of Finance (DOF) pledged to support the initiatives of the Climate Finance Network (CFN) in the Philippines and its intergovernmental solutions for climate finance, disaster risk financing and insurance and sustainable finance coordination.
Source: BusinessMirror - 🏆 19. / 59 Read more »