Sunday 17 February
Nov 10, 2017 @ 18:25

Diokno points out the problem with P200B Malampaya fund


It’s a sizeable amount which cannot be easily touched.

As much as the Department of Budget and Management (DBM) knows how sizeable the controversial Malampaya Fund is, it cannot simply dip its fingers into the amount for use in the government’s normal operations.

In fact, DBM Secretary Benjamin Diokno described it as “difficult to access and reuse,” citing legal restrictions that cover the Malampaya fund.

?[W]e have a fund that is lying idle there. We cannot use it,” Diokno said, noting that Congress needs to amend the law covering the Malampaya Natural Gas project before the funds can be tapped and disbursed for other uses.

Still, Diokno assured that the DBM will “cooperate” with any investigations into the release and use of the P200-billion fund in question.

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