News Formal

PS-DBM to return P3-B high-yield investment to Treasury

  • 📰 gmanews
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 68%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The PS-DBM has expressed intention to return to state coffers its over P3 billion worth of high-yield investment in government banks, which was flagged by the COA as unauthorized.

In a statement sent by the DBM to members of the media on Tuesday, PS-DBM Executive Director Dennis Santiago said “the amount of P3 billion is intact.”

The same 2012 Joint Circular also states that dormant accounts refer to collections authorized by law to be deposited with an authorized government depository bank and have remained inactive for more than five years. “I am one with the Budget Secretary Amenah Pangandaman in giving PS-DBM a chance. Please allow the new administration to reform and transform the agency and provide efficiency and economy in the acquisition of common-use supplies and equipment, which we intend to focus on as part of our mandate,” Santiago said.

PS-DBM is mandated to procure common-use office supplies, materials, and equipment such as, but not limited to, ballpens, papers, stapler, paper clips, folders, and the like for all government agencies.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 11. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Government auditors flag PS-DBM for its P3 billion bank investmentThe Commission on Audit has called the attention of the Department of Budget and Management Procurement Service (PS-DBM) for an unauthorized P3-billion high-yield investment in government banks outside its mandate. READ:
Källa: MlaStandard - 🏆 20. / 55 Läs mer »