Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

DBM denies ‘magic fund’ allegations

PHILIPPINE COAST GUARD PHOTO

THE Department of Budget and Management (DBM) has pushed back against allegations that unprogrammed appropriations (UA) serve as its “magic fund” or pork barrel, while assuring the releases is under strict process and has built-in safeguards.

In a statement issued on Sept. 20, Budget Undersecretary Goddes Hope O. Libiran dispelled claims that the DBM has free rein over the use of unprogrammed funds, while calling to stop making the agency a “scapegoat for political drama.”

“Some people call it pork barrel; others make it sound like DBM has a secret ‘magic fund’ it can use anytime. Both are completely wrong,” she said.

Unprogrammed appropriations, according to the DBM, are standby funds that can only be used for certain projects that may be charged against excess or windfall revenues to fund specific programs and projects.

The controversy surrounding unprogrammed funds revived again after Senator Panfilo “Ping” M. Lacson confirmed that P600 million worth of flood control insertion projects in Bulacan, allegedly linked to Senator Emmanuel Joel J. Villanueva, were sourced from the UA in the 2023 General Appropriations Act.

Ms. Libiran said before any request for UA push through, but has to pass through the DBM’s thorough evaluation process.

“So I reiterate — Unprogrammed Appropriations are not discretionary funds. They are legal, congressionally approved standby appropriations, released only upon the request of implementing agencies, subject to strict evaluation, and consistent with the Constitution and Supreme Court jurisprudence,” she said.

Ms. Libiran also noted that the “ballooning” of UA in recent years was not in the decision of the DBM but the Congress during budget deliberation.

Under the proposed 2026 National Expenditure Program, unprogrammed appropriations were allotted P249.9 billion, equivalent to 3.68%.

Budget Secretary Amenah F. Pangandaman earlier said she wanted to limit the UA to not more than 5% of the national budget, guided by international standards. — Aubrey Rose A. Inosante

    You May Also Like

    Stock Markets

    Pedestrians along the Estrella-Pantaleon Bridge are dwarfed by the towering buildings in Makati City, Dec. 5, 2022. — PHILIPPINE STAR/MIGUEL DE GUZMAN THE Department...

    Finance

    Prime Minister Keir Starmer is tightening control over the government’s economic strategy by strengthening a cross-government Budget Board that will shape the Autumn Statement...

    Finance

    Formula 1 drivers Isack Hadjar and Liam Lawson of the Visa Cash App Racing Bulls (VCARB) team have taken an unusual step to thank...

    Finance

    A new player in football talent management has entered the game. M+C Saatchi Football, co-founded by former England and Liverpool midfielder Jamie Redknapp, officially...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.