Utilizing excess funds of state-run corporations is a more prudent fiscal option for the government than borrowing, the Department of Finance said in defense of its move to ask agencies to remit unused subsidies.
Health advocates and budget watchdogs are pushing for a probe of the DOF’s directive to the Philippine Health Insurance Corp. to remit unused subsidies worth P89.9 billion to the Bureau of the Treasury.MANILA, Philippines — Utilizing excess funds of state-run corporations is a more prudent fiscal option for the government than borrowing, the Department of Finance said in defense of its move to ask agencies to remit unused subsidies.
Recto argued that such a move will not affect the viability of PhilHealth or impair its delivery of services. Unprogrammed appropriations provide standby authority to incur additional agency obligations for priority programs or projects when revenue collection exceeds targets or when additional grants or foreign funds are generated.
Of the unprogrammed funds, P105.66 billion was earmarked to support the foreign-assisted projects of the departments of Agriculture, Finance, Health, Public Works and Highways, Social Welfare and Development, Labor and Employment and Transportation. They will also be utilized to support the community-based monitoring system of the Philippine Statistics Authority and the Comprehensive Automotive Resurgence Strategy program of the Department of Trade and Industry.
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