FDC to House: Explain huge cut in proposed 2009 debt payment budget
11/17/2008 | 05:24 PM
MANILA, Philippines - The Freedom from Debt Coalition (FDC) on Monday pressed the House of Representatives to explain the P14 billion debt payment reductions it made from the proposed P1.415 trillion national budget for 2009 during the third and final reading at the Congress last November 11.
In a press statement, FDC president and University of the Philippines professor Walden Bello particularly voiced the group’s apprehension regarding the manner in which the budget cut was decided on in the Congress.
“The way it was slashed by the Congress is troubling. It lacks transparency regarding where the slashed debt payments will be reallocated, a clear operational stipulation that would guarantee its successful execution is absent and the Congress was silent about this," Bello said.
The FDC revealed that from P320.65 billion proposed debt- interest payment by the Executive Department it was cut down to P287.87 billion - the total debt deduction amounting to a hefty P14.77 billion.
Bello highlighted the need for deep scrutiny, fearing that the outcome of these alternative budget proposals might be utilized to transform the appropriations bill to into election funds to fuel the campaign of some politicians.
“With the national elections just around the corner, the temptation to use the people’s resources as the personal campaign kitty of some is very likely," Bello said.
The FDC particularly pointed at the whooping P8.16- billion augmentation in the budget of the Department of Public Works and Highways, saying the DPWH's proposed budget passed by the House increased to P120.530 billions opposed to the P112.530 billion proposed by the executive department.
Bello warned of possible irregularity in this appropriation, citing the DPWH a "cesspool of corruption" which infrastructure contracts were well- known mechanisms for dispersing political favors particularly during election season.
In its statement, the FDC said it will inquire Rep. Junie Cua, Chairperson of the Committee on Appropriations of the House of Representatives, to disclose the details of the House amendments of the 2009 budget particularly on the budget cuts.
“To be fair to our legislators, we are giving them the benefit of the doubt and the chance to explain their side on the issue," Bello said.
In good faith, Bello said that the decision to surreptitiously cut debt payments might be due to their sincerity to reduce the country’s debt burden or a way to skirt the veto powers of the President concerning debt cuts.
He maintained, however, that transparency should still ensue.
“Any decision concerning the people’s resources without their knowledge, participation and judgement are themselves breeding grounds for more corruption, plunder disempowerment and the perpetuation of fiscal dictatorship," he explained.
The FDC has been lobbying for the non-payment of illegitimate, wasteful and/ or useless debts and has endorsed meaningful reforms in the budget system. - Mikhaela De Leon, GMANews.TV
In a press statement, FDC president and University of the Philippines professor Walden Bello particularly voiced the group’s apprehension regarding the manner in which the budget cut was decided on in the Congress.
“The way it was slashed by the Congress is troubling. It lacks transparency regarding where the slashed debt payments will be reallocated, a clear operational stipulation that would guarantee its successful execution is absent and the Congress was silent about this," Bello said.
The FDC revealed that from P320.65 billion proposed debt- interest payment by the Executive Department it was cut down to P287.87 billion - the total debt deduction amounting to a hefty P14.77 billion.
Bello highlighted the need for deep scrutiny, fearing that the outcome of these alternative budget proposals might be utilized to transform the appropriations bill to into election funds to fuel the campaign of some politicians.
“With the national elections just around the corner, the temptation to use the people’s resources as the personal campaign kitty of some is very likely," Bello said.
The FDC particularly pointed at the whooping P8.16- billion augmentation in the budget of the Department of Public Works and Highways, saying the DPWH's proposed budget passed by the House increased to P120.530 billions opposed to the P112.530 billion proposed by the executive department.
Bello warned of possible irregularity in this appropriation, citing the DPWH a "cesspool of corruption" which infrastructure contracts were well- known mechanisms for dispersing political favors particularly during election season.
In its statement, the FDC said it will inquire Rep. Junie Cua, Chairperson of the Committee on Appropriations of the House of Representatives, to disclose the details of the House amendments of the 2009 budget particularly on the budget cuts.
“To be fair to our legislators, we are giving them the benefit of the doubt and the chance to explain their side on the issue," Bello said.
In good faith, Bello said that the decision to surreptitiously cut debt payments might be due to their sincerity to reduce the country’s debt burden or a way to skirt the veto powers of the President concerning debt cuts.
He maintained, however, that transparency should still ensue.
“Any decision concerning the people’s resources without their knowledge, participation and judgement are themselves breeding grounds for more corruption, plunder disempowerment and the perpetuation of fiscal dictatorship," he explained.
The FDC has been lobbying for the non-payment of illegitimate, wasteful and/ or useless debts and has endorsed meaningful reforms in the budget system. - Mikhaela De Leon, GMANews.TV
