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The Department of Finance said Monday it plans to tap billions of pesos in unused and idle funds held by government-owned and controlled corporations to fund critical projects in healthcare, social services and infrastructure.
“The move does not affect the viability of participating corporations. It does not impair their delivery of services,” the DOF said, citing PhilHealth, left with a P500-billion benefit chest which could fund multiple-year claims. It said that in the case of PhilHealth, the unused government subsidies are not part of its reserve funds, nor income that is being restricted by the Universal Health Care Act to be used by the national government as a general fund.
The DOF said these were made in observance of legal rail guards spelled out in legal opinions by the Office of the Government Corporate Counsel .
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