Finance Secretary Ralph Recto has clarified some inaccurate information that caused misconstrued thoughts on his agency’s steps for GOCC fund utilization.

In his opening statement during the Senate Committee on Health and Demography, Recto said the DOF complied with the legal authorization as he sought further guidance from the lawmakers in moving forward.

“Maraming salamat po sa pagkakataong inyong ibinigay sa amin upang linawin - at ituwid ang mga haka-haka - na nagdudulot ng maraming maling akala sa paksang ito,” Recto said on Tuesday.

“It is good that clarifications will be done in this institution because the legal authorization that is at the root of this matter emanates from here. As a compliant agency, we in the DOF hope that at the end of this meeting, you can offer guidance on how to move forward,” he added.

Recto corrected some information orbiting in social media, including its supposed illegal move to take money from government owned and controlled corporations (GOCCs), particularly PhilHealth.

He cited Republic Act No. 11975 or General Appropriations Act 2024 that legalizes it and makes his agency compliant to the law.

Recto also pointed out that DOF did not automatically implement it. It first underwent rigorous reviews to know its merit, legality, and its contribution to economic development, he added.

“At hindi automatic naming in-implement ito dahil binusisi muna namin kung may merit ang kautusan. Dumaan muna ito sa masusing pag-repaso ng DOF para malaman kung makakatulong nga ba ito sa paglago ng ekonomiya,” Recto pointed out.

“Kung Ito ay legal ba, nakipag-ugnayan rin kami sa GCG at sa abogado ng mga GOCCs--ang OGCC. At mayroon kaming nakalap na mga pabor na legal opinion galing sa OGCC at COA,” he added.

The Finance Secretary also disclosed that they received a legal advice that PhilHealth remittance is not included on funds which cannot be utilized by the government as per Universal Health Care Act. He also debunked information that the fund will be utilized and added to Maharlika Investment Fund (MIF).

“Kami ay naabisuhan na hindi kasama ang subject PhilHealth remittance sa mga pondong ipinagbabawal na gamitin ng gobyerno ayon sa Universal Health Care Act,” Recto said.

“Ito ang payong legal na aming sinusunod. At hindi lamang ito legal, ito'y makakatulong sa paglago ng ekonomiya at pagbibigay ng trabaho,” he added.

“Pangalawa, Ilalagay daw "ang mga pondong nakalap sa Maharlika Investment Fund. Hindi po. Walang kinalaman ang MIF sa paggagamitang pondo ng mga GOCCs.” Presidential News Desk