Press Release
September 14, 2011

Congressional Oversight Committee on CTRP hearing
Chaired by Sen. Ralph G. Recto

Facts/Information Gathered

As Per national treasurer Roberto Tan: Malampaya collections from 2002 to August 2011 is P121.97B

With P21.645B already released or disbursed (these included the funds used for Pantawid Pasada, purchase of Hamilton-class vessel etc.) P99.45B as remaining balance.

Tan said Malampaya funds is placed in a special account in the general funds and, therefore, co-mingled.

He said they could raise the money immediately for release probably through borrowings.

Recto: When do you say it's co-mingled, it means nagastos na for other purpose?

It can't be co-mingled, that's why it's special account for a special purpose.

It should have not been used for any purpose other than from which It was created like energy-oil exploration

We should do something about it. It's mind-boggling that there's P100B missing (rounded off from P99B)

Tan disclosed that P4.9B in fresh draw downs would be made from Malampaya "for support/upgrading of the protection and security of the Malampaya site.

He said the funds were approved for release by Pnoy this sept.

Tan said the funds would be used by AFP to beef up defenses in the Malampaya site like acquiring smaller crafts as support fleet of the Hamilton cutter class (BRP Gregorio del Pilar)

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