COA: P7B OWWA funds intact with banks - Malaya 08.08.2006
A Commission on Audit resident auditor at the Overseas Workers’ Welfare Administration yesterday said the agency’s trust funds, placed at P7.1 million, are intact with two government banks.
Gemiliano Maloles told the Senate committee on labor, employment and human resources development that as of June 30, 2006, P3.2 billion was deposited with the Land Bank of the Philippines while another P3.2 billion was with the Development Bank of the Philippines.
Maloles said another P703 million is in various bank accounts or in the form of management investment contracts.
He said the funds can be encashed or withdrawn anytime.
"Yes, your honor," Maloles told the panel chaired by Sen. Jinggoy Estrada when pressed if OWWA funds are intact.
Senators were not fully convinced.
Sen. Joker Arroyo said: "If indeed OWWA has funds, why has it been parsimonious in releasing funds for repatriation?"
Arroyo said despite the staggering amount of cash in bank, the best OWWA could do was to shell out $19,000 for the government’s repatriation efforts in Lebanon.
"Roughly P7 billion are accounted for regardless whether they were used rightly or wrongly," Arroyo said. "Kung may pera, bakit sila nagtitipid?" he added.
Sen. Ralph Recto directed Maloles to get a certification from the banks were the OWWA funds are deposited.
Maloles also said P530 million in OWWA funds was transferred by the Philippine Health Corp. (Philhealth) in support of the government’s new policy to centralize health insurance of all workers under one roof.
Recto said he does not see any anomaly if the OWWA funds were used to take care of the health needs of OFWs through the Philhealth.
"Using OWWA funds for Philhealth is fine with me. But investing it for other purposes is another question," he said.
Sen. Alfredo Lim said the OWWA should list how many OFWs benefited from the funds.
Senators also questioned the investment by OWWA in the Smokey Mountain reclamation-housing project in 1995.
Maloles said OWWA invested P500 million in the reclamation project. He said the investment was "insured" by the Home Insurance Guaranty Corp. and has long been recovered by OWWA.
Recto said OWWA has no business putting its money into the reclamation project.
But Maloles said there is nothing in the mandate of OWWA which prohibits it from investing in worthy projects.
"Walang kinalaman ang OFW dun," Recto said after the hearing.
Recto said the country should stop sending OFWs to countries which are not signatories to the UN convention for the protection of migrant workers, especially women.
He said most of Middle Eastern nations are not signatories to the convention.
Government officials again High-ranking executives continued to snubbed Senate invitations to attend the hearing yesterday.
Executive Secretary Eduardo Ermita has said that the Senate must first submit proposed questions as a precondition to their appearance.
Ermita said the advanced questions would enable the officials to prepare for the hearing.
Last week, the Senate issued subpoenas to Labor Secretary Arturo Brion, Budget Secretary Rolando Andaya Jr., Foreign Affairs Undersecretary Esteban Conejos Jr. and OWWA chief
Marianito Roque after they failed to heed to earlier summons.
Estrada said a caucus will be held to discuss if warrants of arrest would be issued against the Malacañang officials.
Senate President Manuel Villar said he will await the recommendation of Estrada’s panel.
"Ang hindi pagsipot ng mga inimbita o sinabpoena na mga opisyales ay may proseso. Ang komite ay maaaring magbotohan dyan. Kung ano ang rekomendasyon ng komite ay susundin ko," Villar said. – Dennis Gadil
Gemiliano Maloles told the Senate committee on labor, employment and human resources development that as of June 30, 2006, P3.2 billion was deposited with the Land Bank of the Philippines while another P3.2 billion was with the Development Bank of the Philippines.
Maloles said another P703 million is in various bank accounts or in the form of management investment contracts.
He said the funds can be encashed or withdrawn anytime.
"Yes, your honor," Maloles told the panel chaired by Sen. Jinggoy Estrada when pressed if OWWA funds are intact.
Senators were not fully convinced.
Sen. Joker Arroyo said: "If indeed OWWA has funds, why has it been parsimonious in releasing funds for repatriation?"
Arroyo said despite the staggering amount of cash in bank, the best OWWA could do was to shell out $19,000 for the government’s repatriation efforts in Lebanon.
"Roughly P7 billion are accounted for regardless whether they were used rightly or wrongly," Arroyo said. "Kung may pera, bakit sila nagtitipid?" he added.
Sen. Ralph Recto directed Maloles to get a certification from the banks were the OWWA funds are deposited.
Maloles also said P530 million in OWWA funds was transferred by the Philippine Health Corp. (Philhealth) in support of the government’s new policy to centralize health insurance of all workers under one roof.
Recto said he does not see any anomaly if the OWWA funds were used to take care of the health needs of OFWs through the Philhealth.
"Using OWWA funds for Philhealth is fine with me. But investing it for other purposes is another question," he said.
Sen. Alfredo Lim said the OWWA should list how many OFWs benefited from the funds.
Senators also questioned the investment by OWWA in the Smokey Mountain reclamation-housing project in 1995.
Maloles said OWWA invested P500 million in the reclamation project. He said the investment was "insured" by the Home Insurance Guaranty Corp. and has long been recovered by OWWA.
Recto said OWWA has no business putting its money into the reclamation project.
But Maloles said there is nothing in the mandate of OWWA which prohibits it from investing in worthy projects.
"Walang kinalaman ang OFW dun," Recto said after the hearing.
Recto said the country should stop sending OFWs to countries which are not signatories to the UN convention for the protection of migrant workers, especially women.
He said most of Middle Eastern nations are not signatories to the convention.
Government officials again High-ranking executives continued to snubbed Senate invitations to attend the hearing yesterday.
Executive Secretary Eduardo Ermita has said that the Senate must first submit proposed questions as a precondition to their appearance.
Ermita said the advanced questions would enable the officials to prepare for the hearing.
Last week, the Senate issued subpoenas to Labor Secretary Arturo Brion, Budget Secretary Rolando Andaya Jr., Foreign Affairs Undersecretary Esteban Conejos Jr. and OWWA chief
Marianito Roque after they failed to heed to earlier summons.
Estrada said a caucus will be held to discuss if warrants of arrest would be issued against the Malacañang officials.
Senate President Manuel Villar said he will await the recommendation of Estrada’s panel.
"Ang hindi pagsipot ng mga inimbita o sinabpoena na mga opisyales ay may proseso. Ang komite ay maaaring magbotohan dyan. Kung ano ang rekomendasyon ng komite ay susundin ko," Villar said. – Dennis Gadil
posted by brodkaster43 at Martes, Agosto 08, 2006
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