Press Release
October 14, 2009

GET ONDOY FUNDS RELEASED ASAP - ANGARA

With the Lower House's approval of the P12 Billion calamity fund , Senator Edgardo J. Angara said that the Senate must approve the joint resolution without further delay so that the funds can be released by next week.

"The Department of Budget and Management (DBM) and other line agencies have already promised to act speedily and release this fund by next week. All it needs is Congress' approval. We cannot afford any more delay," said Angara who chairs the Senate Committee on Finance.

Angara aldo urged local and national government agencies to provide safeguards and delineate the projects that will be funded, identifying what project qualifies as urgent enough to fall under the calamity fund.

He added, "There should be a clear cut distinction between public spending and foreign donations and grants. The situation calls for efficiency in fund allocation as well as strict monitoring"

Angara reported that the 12-B will be coming from the so-called unprogrammed portion of the national budget. Unprogrammed is defined as one which has no funding yet when the budget was made. But will be funded if money comes in during the course of the budget year such as additional revenue, tax collection, borrowings, so borrowed funds and any other income of government that was not anticipated or expected or included in the revenue target.

Moreover Angara said that, specifically this will come particularly from the proceeds of Malampaya share of the national government where the total amount is 14-B.

The Senator believes that the emergency appropriations of 12-B will only partially relieve the suffering and mitigate the damage. He said that more than P12 billion will be needed for the ultimate rehabilitation and construction phase.

Meanwhile, Angara asked and got the assurance of the DBM and the line agencies not do the government "business as usual" in the disbursement of funds and to act more speedily and expeditiously on their critical task.

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