PRESS RELEASE

With the government working to provide for the urgent needs of 115 million Filipinos, it is imperative that it mobilizes unused and idle funds so that these can be tapped to finance priority government health, education, and infrastructure programs.

This was stressed on Tuesday by Finance Secretary Ralph Recto, who in a radio interview explained the rationale behind tapping the excess unused funds of the Philippine Health Insurance Corporation (PhilHealth) and other government-owned and controlled corporations (GOCCs). 

The Finance Chief compared the mobilization of unused funds to idle police who were at a police station when they were needed in areas rife with crime. 

“Halimbawa, maraming krimen sa kalsada at merong mga pulis ang natutulog, halimbawa lang sa general headquarters; hindi ho ba dapat i-deploy mo ‘yung mga pulis na ‘yan na natutulog lang, halimbawa doon sa lansangan kung saan may krimen,” asked the cabinet official. 

“So, ihahalintulad ko rin ito ‘sa pondo ng gobyerno na natutulog lang na dapat pakinabangan sa dami ng pangangailangan na 115 million na Pilipino,” Secretary Recto pointed out.

According to Secretary Recto, “kung may perang natutulog, hindi napapakinabangan sa dami ng pangangailangan—halimbawa sa edukasyon, sa kalusugan, sa infrastraktura, sa ayuda na dapat ibigay sa mga mamamayan natin—ay dapat gamitin natin yan nang husto.”

Recto said he acknowledged the viewpoints of sectors that are concerned about the use of PhilHealth’s unused government subsidy, but pointed out that the state has the responsibility to manage its resources properly so that it doesn’t resort to more borrowings. 

He revealed that the government currently spends PHP 15.8 billion a day, collects only PHP 11.8 billion a day in revenues, and thus has to borrow PHP 4.0 billion a day to cover its programs and projects. 

“Nakikinig naman tayo sa lahat ng nagsasalita. Nakikinig tayo sa mga medical practitioners natin. Nakikinig tayo sa mga kumukontra. Pinakikinggan natin ang Kongreso. Lahat pinakikinggan natin dahil ito ay ayon sa ating demokrasya,” Recto said. 

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