December 29, 2024 | 12:00am
MANILA, Philippines — The Makati Business Club (MBC) sounded the alarm on adjustments to be made in the bicameral-approved budget next year, calling for a “more transparent and accountable process” before its final passage.
In a statement yesterday, MBC commended the initiative of President Marcos in scrutinizing the budget, raising concerns about the version approved by the bicameral committee.
In particular, the group was “alarmed” about the bloated budget allocated to the Department of Public Works and Highways, which was higher than that of the education sector, therefore violating the constitutional rule to prioritize education funding.
“Congress received a budget increase of P19 billion. There is no sufficient explanation on the need and/or justification for this budgetary adjustment,” MBC said.
“Neither is there any explanation or justification for the P26-billion allotment for the financial assistance subsidy to ‘near-poor’ families. There is no information on how this will be implemented or the conditions required for receiving the assistance,” it added.
According to MBC, the bicameral committee also failed to explain why the approved budget removed the P74.43-billion subsidy for the state health insurer, Philippine Health Insurance Corp.
“MBC believes that the national budget should be designed to address the concerns and needs of the Filipino people. Thus, MBC calls for more transparent and needs-aligned corrective actions to the 2025 budget,” the group added.
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