Metro Manila (CNN Philippines, November 25) – The Philippine International Trading Corporation welcomed the call for a Senate inquiry as it denied maintaining billions worth of unspent government funds.
“We’d like to assure our esteemed lawmakers that we are not a valet service for obligated but unused funds of various government agencies. Neither do we operate a parking lot to gain commissions on the side,” said PITC president Dave Almarinez in a statement on Wednesday.
Senator Franklin Drilon earlier flagged the ₱33.4 billion in unused government funds which remained “parked” within the state trading firm. He called on the PITC to return the amount to government coffers for the procurement of COVID-19 vaccines.
However, the PITC said it has returned all unutilized funds to the National Treasury.
“The PITC has records to show that it has reverted back to the national treasury all unutilized funds of client-agencies covering the periods 2019 and prior years and fully liquidated funds utilized for the procurement of goods and services for those years,” said the government firm.
The PITC also allayed the worries of some senators that it be a hindrance in the procurement of COVID-19 vaccines.
“We should not be seen as a threat or hindrance to the vaccination program because we don’t even have the power to choose which vaccine to buy. We are not involved in any way in the decision-making process,” Almarinez said.
The PITC was tapped to procure ₱20 billion worth of COVID-19 vaccines However, some senators are worried, saying the PITC has a poor track record.
“We would like to reiterate that PITC is on track for the completion of the procurement projects and all funds are all accounted for,” Almarinez said. “We appeal for reason and impartiality because it would be unfair to all if the COVID-19 vaccination program is already being pulled down even before it has a chance to rise above everyone’ expectations,” he added.
