Health advocates and budget watchdogs are pushing for a probe of the DOF’s directive to the Philippine Health Insurance Corp. (PhilHealth) to remit unused subsidies worth P89.9 billion to the Bureau of the Treasury.
In a statement, Finance Secretary Ralph Recto said the government cannot afford to let government-owned and controlled corporations (GOCCs) have excess money and just keep it idle, as such funds could be used instead for public investment.
“Hibernating funds can help the nation without harming government corporations. This way, the government does not have to inflict additional taxes, increase our debt and put pressure on our deficit,” Recto said.
Recto argued that such a move will not affect the viability of PhilHealth or impair its delivery of services.
Even with the remittance contribution, Recto said PhilHealth is left with a P500-billion benefit chest, which can fund multiple-year claims.
“Remittances to fund urgent national projects do not come from their member contributions but from a fraction of billions in unutilized national government subsidies,” Recto said.
This story is from the July 16, 2024 edition of The Philippine Star.
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This story is from the July 16, 2024 edition of The Philippine Star.
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