Looking after the P 11B Malampaya Funds

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Looking after the P 11B Malampaya Funds; Accounting of expenditure's and balance
Tweet Topic Started: Dec 18 2011, 09:06 PM (738 Views)
AVBsupersonic	Dec 18 2011, 09:06 PM Post #1
Member Posts: 1,996 Group: Regulars Member #5,877 Joined: April 10, 2010	Malampaya P 11B. Pesos released, may we see some transparency on accounting for these ones like "How much have we used, where did we use it and how much still left to spend???" - $ 251,084,219.47 Million USD that's still a lot of money... This is also to avoid confusions and getting mixed up with the AFP/ Modernization budgets, acquisitions etc... Feel free to share your inputs/ infos for transparency on accounting of the P11 B. Pesos Malampaya funds released by the Govt/DOE to be used for WPS security. Last April 2011, Pres. Benigno Aquino III on Wednesday announced the allotment of P11 billion funds for the modernization of the Armed Forces of the Philippines (AFP). Aquino said the P3 billion will be sourced from the AFP modernization fund while the remaining P8 billion will come from the proceeds from national government’s share from taxes and charges from the Malampaya natural gas project in Palawan. The PF-15 transfer cost P 450 M. Pesos = less than $ 11 M. USD
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