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| PMA in deficit | |
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| Tweet Topic Started: Oct 23 2004, 09:40 AM (865 Views) | |
| Banahaw | Oct 23 2004, 09:40 AM Post #1 |
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Trainee
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Inquirer While top alumni wallow in riches, PMA is in deficit WHILE some lucky generals are accumulating millions of dollars in foreign bank accounts, the premier institution for educating the country's soldiery has been mirroring the national fiscal crisis, racking up budget deficits over several years. The Philippine Military Academy, which marks its 106th foundation day today, has incurred a P65-million budget deficit since the middle of the year, prompting its officials to cut out some employee incentives, including bonuses, and impose cost-cutting measures, according to sources in the military. The deficit "has been accumulating" for several years, according to the source who said the issue was the subject of a top-level conference at the Armed Forces headquarters in Camp Aguinaldo about two months ago. The Inquirer tried but failed to reach PMA Supt. Maj. Gen. Cristolito Balaoing. The government spends at least P2 million for the four-year education of each PMA cadet who, upon graduation, is commissioned into the Armed Forces as a regular in the officers corps. Last year, the PMA was given a budget of P514 million, P456 million of which was earmarked for military education and for the training of cadets, P52 million for administration support and P5 million for a computerization project. |
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12:59 AM Jul 14