The Commission on Audit (COA) has required the Department of Information and Communications Technology (DICT) to account for the more than P2.6 billion fund transfers (FTs) to the Philippine International Trading Corporation (PITC) for the procurements of goods and services which have "aged" for...
Quezon City, with assets of P443.4 billion in 2022, is still the richest city in the Philippines. Cebu province is the wealthiest with assets of P235.7 billion, while Carmona (which became a city in July 2023) in Cavite was the richest municipality in 2022 with assets of P6.5 billion. Makati City...
The allowable revenues of transmission firm National Grid Corporation of the Philippines (NGCP) had been pared by more than half to P183.491Billion, or lower by more than P204 billion from the company’s original claims of P387.803 billion as applied for under its fourth regulatory reset. In a...
The Commission on Audit (COA) has recommended that sanctions, like suspension of salaries, be imposed on erring officials of the Department of Information and Technology (DICT) for delay or non-submission of financial statements for three consecutive years. "The DICT did not submit the year-end...
KMC Savills, the country’s leading real estate brokerage and consultancy firm, launched its first-ever Regional Office Briefing highlighting the latest property updates and outlook for the top cities of Cebu, Clark, Davao, Iloilo, and Bacolod. Starting the event, KMC Savills Executive Director...
The local government of Davao City "inappropriately charged" P6.4 million against the 20 percent Development Fund (DF) for 2022, the Commission on Audit (COA) said in its compliance audit report. The DF "is a required allocation of the LGUs (local government units) out of their respective annual...
The Social Security System (SSS) has returned to the Bureau of Treasury (BTr) P5.7 billion unutilized fund for the Small Business Wage Subsidy (SBWS) Program of the Department of Finance (DOF) to help small business employers and employees during the Covid-19 pandemic. In its Peformance Audit...
The Senate has ratified the bicameral conference committee report on the disagreeing provisions of Senate Bill No. 2224 and House Bill No. 4125 or the proposed Ease of Paying Taxes Act. The bill primarily seeks to amend provisions of the National Internal Revenue Code of 1997 to simplify the...
Only 16 of the 219 aviation industry operators, who were identified as critically impacted business owners in 2020 during the Covid-19 pandemic, got financial assistance from the P300 million allotted by the Civil Aviation Authority of the Philippines (CAAP) and received P52.8 million in “excess...
Ombudsman Samuel R. Martires stood pat on his suggestion that the Commission on Audit (COA) should not publish its annual audit reports (AARs) for fear that the public may make incorrect assumptions on possible acts of corruption. During the hearing before the Committee on Appropriations of the...
The Commission on Audit (COA) has flagged the Philippine Health Insurance Corporation (PhilHealth) over unsettled notices of disallowance (NDs) amounting to P7,857,710,895.05 across all regions in the country as of Dec. 31, 2022, some of which have been unsettled since 2008. In its audit...
The Commission on Audit (COA) has flagged the Department of Health (DOH) over the P1.93 billion procurement of goods, infrastructure projects, and consultancy services that "deprived the government of the most advantageous prices and resulted in doubtful payment transactions and significant delays...
