Radyo Natin

Recto seeks PhP15B add'l 'standby fund' for Marawi

MANILA — Senate President Pro Tempore Ralph Recto is proposing a P15 billion 'standby fund' for Marawi reconstruction on top of the P10 billion that is already in the 2018 national budget bill.
Recto, in a statement, said the additional P15 billion can be included in the Unprogrammed Appropriations portion of the P3.76 trillion spending measure.
This way, Recto said, it would cancel the need for the passage of a supplemental appropriation bill in the event that the P10 billion for Marawi is not enough or has been spent before yearend.
Under budget laws, Recto said that amounts authorized under Unprogrammed Appropriations can only be released when tax and non-tax revenues exceed collection goals or if loans for a particular activity are secured.
He described the Unprogrammed Appropriations, which is pegged at P75.34 billion for 2018, as a "hidden big ticket item."
According to Recto, the biggest item in the Unprogrammed Appropriations is for the so-called "risk management" for which P30 billion is authorized to cover maturing obligations and other government commitments under various Public Private Partnership projects.
"We can rearrange, revise the components of the unprogrammed fund to accommodate the needs of Marawi, which must be prioritized," Recto said.
Recto said anew that Marawi has given Mindanao "knowledge and power" worth hundreds of billions of pesos over the years.
"Let us always keep in mind that Marawi is the capital of the province where Lanao Lake is, which is the source of about 40 percent of Mindanao's power supply," Recto said.
Defense Secretary Delfin Lorenzana had announced that "at least P50 billion" will be needed to rebuild Marawi. (PNA)
Jocks
Cheska
Dennis
Iyaz Kamias
Kleir
Maja Limuyak
Valeen Kinitan

Radyo Natin is a network of Manila Broadcasting Company.
We are located at MBC Building, CCP Complex, Roxas Boulevard, Pasay 1307, Philippines
All rights reserved. Site authentication by GatePass.
More stories
Last Modified: 2017-Oct-10 06.55.27 UTC+0800