Ako Bicol Rep. Elizaldy Co praised the Department of Finance’s decision to redirect unused funds from government-owned and controlled corporations (GOCCs) towards healthcare, social services, and infrastructure projects, asserting that this move would provide crucial assistance at no additional cost to the government.
Co, who heads the House of Representatives Committee on appropriations, highlighted that the reallocation would benefit millions of Filipinos and stimulate economic activity.
He clarified that the plan would not affect the viability of GOCCs, emphasizing that only surplus funds, not member contributions, would be utilized.
The initiative follows legislative oversight of PhilHealth’s subsidies, ensuring that reserved funds remain untouched under the Universal Health Care Act.
Source: PhilNews24 | July 17, 2024
