Manila Mayor Francisco "Isko Moreno" Domagoso announced on Wednesday that the city government saved over P68 million in its unpaid obligation.
According to a memorandum of agreement between the Manila city government and the Government Service Insurance System (GSIS), the local goverment was able to save a total of P68,492,657.22 in unpaid obligation.
This decreases their total obligation from around P195 million to only P126 million.
The city government will begin paying their total obligation to the GSIS in January 2021.