Spending of Malampaya funds prudent under PNoy, says Palace
MANILA - Malacanang on Wednesday assured the public that the President has been judicious and prudent in spending the Malampaya funds.
Presidential spokesperson Edwin Lacierda said: "We want to be sure we vet projects properly. In the past you'll see pernicious use of Malampaya funds not for energy-related projects."
Lacierda said even if the Malampaya funds are under the discretion of the President, the president has interpreted that to mean discretion over energy and energy-related projects.
The Bureau of Treasury also said the P137.288 billion in Malampaya funds remain intact, refuting the claims of Sen. Ralph Recto that the funds are gone.
The collections and government shares for the Malampaya fund are still credited and booked under Fund Code 151, a Special Account in the General Fund (SAGF) managed by the BTr.
"Sen. Recto's claims are unfounded and misleading. The remaining Malampaya Fund balance—all amounting to P137.288 billion—is not 'gone,' as he says, but perfectly intact in the National Treasury," Treasurer Rosalia V. De Leon said.