Inaccurate information are giving way for misconstrued ideas about the steps of the Department of Finance (DOF) in utilizing funds of government-owned and controlled corporations (GOCCs), according to the agency.

Finance Secretary Ralph Recto explained the DOF complied with the legal authorization as he sought further guidance from the lawmakers in moving forward.

“It is good that clarifications will be done in this institution because the legal authorization that is at the root of this matter emanates from here. As a compliant agency, we in the DOF hope that at the end of this meeting, you can offer guidance on how to move forward,” Recto said during a Senate hearing.

Recto corrected information circulating on social media, including the supposed illegal transfer of fund from government-owned and controlled corporations (GOCCs), particularly PhilHealth.

He cited Republic Act No. 11975 or the General Appropriations Act of 2024 that legalizes it and makes his agency compliant with the law.

Recto pointed out that the DOF did not automatically implement the transfer.. It first underwent rigorous reviews to determine its merit, legality, and its contribution to economic development, he added.

“At hindi automatic naming in-implement ito dahil binusisi muna namin kung may merit ang kautusan. Dumaan muna ito sa masusing pag-repaso ng DOF para malaman kung makakatulong nga ba ito sa paglago ng ekonomiya,” Recto pointed out.

“Kung ito ay legal ba, nakipag-ugnayan rin kami sa GCG at sa abogado ng mga GOCCs–ang OGCC. At mayroon kaming nakalap na mga pabor na legal opinion galing sa OGCC at COA,” he added.

The Finance Secretary also disclosed that they received legal advice that PhilHealth remittance is not included in funds that cannot be utilized by the government as per the Universal Health Care Act. He also debunked information that the fund will be utilized and added to the Maharlika Investment Fund (MIF).

“Kami ay naabisuhan na hindi kasama ang subject PhilHealth remittance sa mga pondong ipinagbabawal na gamitin ng gobyerno ayon sa Universal Health Care Act,” Recto said.

“Ito ang payong legal na aming sinusunod. At hindi lamang ito legal, ito’y makakatulong sa paglago ng ekonomiya at pagbibigay ng trabaho,” he added.

“Pangalawa, ilalagay daw ang mga pondong nakalap sa Maharlika Investment Fund. Hindi po. Walang kinalaman ang MIF sa paggagamitang pondo ng mga GOCCs.”

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AUTHOR PROFILE

Mario Fetalino Jr.