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A lawmaker on Tuesday backed proposals to allocate unused government-owned and controlled corporations funds to programs related to social services and infrastructure projects.Ako Bicol Party-list Representative Zaldy Co , chairperson of the House Appropriations Committee, rallied behind the proposal of the Department of Finance to redirect dormant GOCC funds to other projects' budgets.
The DOF said the 2024 General Appropriations Act allows the move, citing the P500-billion reserve of the Philippine Health Insurance Corporation for the redirection. "These are not derived from member contributions but are, in fact, unutilized funds provided by the national government. It is essential to understand that these funds are distinct and separate from any contributions made by PhilHealth members and are meant to be used for the country's development," said Co.
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