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Former Department of Finance secretaries expressed support for the use of excess funds from government-owned or controlled corporations to finance crucial government projects.
Signatories include Cesar Virata, Roberto De Ocampo, Jose T. Pardo, Alberto G. Romulo, Jose Isidro Camacho, Margarito Teves and Cesar Purisima. “As past DOF secretaries, we are acutely aware of the heavy responsibility the DOF bears in funding the nation’s dreams and aspirations for the Filipino people,” they said. “We have firsthand experience with the underlying challenges and difficulties of generating sufficient revenues to fund critical initiatives that support economic growth.”
“The taxpayers are effectively paying interest on these idle, unused funds that are benefiting no one,” they said.
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