President Rodrigo Duterte said on Tuesday that there is no such thing as “parked” funds at the Philippine International Trading Corp. (PITC) amounting to P33 billion, which is an issue that has been repeatedly raised by Senator Franklin Drilon.
In a Palace briefing on Tuesday, Presidential Spokesperson Harry Roque said Duterte sees no issue in the PITC having alleged P33-billion “parked” funds from different government agencies, as the funds are not idle but undergoing different stages of procurement.
Some senators, particularly Drilon, have called out PITC to return to the national treasury the P33 billion in “parked” funds or undelivered projects to various government agencies. PITC is an agency under the Department of Trade and Industry (DTI).
PITC serves as a procurement body for government offices.
Roque said Department of Defense (DND) Secretary Delfin Lorenzana attested during a meeting with Duterte on Monday that the DND has P11-billion worth of projects coursed through PITC, and those are ongoing projects.
DTI Secretary Ramon Lopez said PITC also made reforms such as returning the fund to the Treasury if the project had two years of series of failed biddings.“What will happen to the equipment procurement requirement of several agencies if they return the balance funds? These were approved budgets and must be implemented. Otherwise, agency operations will be affected,” Lopez earlier told reporters. SOVEREIGNPH