Gov't eyes law to fix DAP savings conundrum

Posted at 07/24/14 11:49 PM

MANILA - While the administration appeals the Supreme Court's decision on the Disbursement Acceleration Program (DAP), it's also considering filing a bill that will clearly legalize the practices the Supreme Court declared unconstitutional.

Budget Undersecretary Bon Moya said this could be part of what he calls a financial act with the administration's definition of savings.

The Supreme Court had said the administration improperly declared some funds as savings, which allowed it to fund other projects.

"We're thinking of coming up with a financial act that allows us to define savings properly," Moya said in a National Economic and Development Authority-ABS-CBN News Channel (NEDA-ANC) broadcast.

"We are doing our best to see if there are enough to codify as a financial act."

Such a law would give the Aquino government and its successors more flexibility in dealing with funds after the budget is approved by Congress.