By: Ben R. Rosario
Bayan Muna Rep. Carlos Isagani Zarate has called on Congress to exercise stringent oversight powers over the revenues raised from the operation of the Malampaya Natural Gas Project in Palawan after audit findings indicated that P38.8 billion in funds have been irregularly disbursed.
Zarate said exercising congressional oversight power has become imperative as dangers in the misuse of the fund remain present.
“This type of misuse is one of the reasons why we filed House Bill 3877 to amend Presidential Decree 910, Creating an Energy Development Board, and Mandating the Transfer of the Malampaya Funds to the General Fund, so as we can truly see how the fund is being used and appreciate its true value in our national development,” said Zarate.
The Commission on Audit has called for a criminal investigation into the questionable release of P38.8 billion in Malampaya funds from 2004 to 2012.
The 80-page Sectoral Performance Audit report released recently by the CoA indicated that the disbursement of the amount – more than 22 percent of the total P173.3 billion collected by the government as of June 30, 2013 – may not be considered proper due to non-compliance with existing laws, rules, and regulations.
Zarate noted that at the time CoA sent copies of the report to the Department of Budget and Management and the Bureau of Treasury last August, the two agencies pointed accusing fingers at each other over the P20-billion portion of the allegedly irregular disbursement of Malampaya funds.
“Afterwards, the Bureau of Treasury released a list stating that since January 2004 up to February 2013, the past two administrations used the Malampaya funds to finance priority development projects all over the country as well as other projects identified by the executive,” Zarate said.