PNoy announces launch of P25B fund for infrastructure in July

A P25 billion fund for infrastructure—the Philippine Investment Alliance for Infrastructure (PInAI)—is set to be launched in July, President Benigno Aquino III announced Monday.

 

Aquino said the Government Service Insurance System (GSIS) is the lead agency in sourcing the fund, the largest to be allotted for such projects, which will be managed by Macquarie Group.

 

“Bukod sa ihahatid nitong serbisyo, magbubunsod pa ito ng lalo pang pagginhawa ng ekonomiya, at manganganak ng maraming trabaho,” the President said in his speech during the 75th anniversary of GSIS.

 

He did not give other details.

 

Public service

 

Still in his speech, Aquino said gone are the days that GSIS funds were used by powerful individuals to advance their self-interest.

 

“Kaya naman nang manungkulan tayo, pinatibay po natin ang tunay na mandato ng GSIS. Itinaguyod natin ang mga reporma upang siguruhing nagsisilbi kayong instrumento ng makabuluhang serbisyo-publiko. Ibinalik natin ang tutok nito sa pagkalinga sa mga empleyadong marapat lamang suklian ang paninilbihan sa taumbayan,” he said.

 

Aquino said after two years, the GSIS returned to its mandate of providing service to its 1.7 million members and pensioners.

 

He said through the help of National Statistics Office and Local Civil Registry, which provide information on the true status of GSIS members and pensioners, senior citizens and the sick no longer need to go to GSIS office to renew their active status.

 

He further said that with the additional 500 Wireless Automated Processing System Kiosks, members can do their important transactions without having to go to the GSIS office.

 

He said members in far-flung areas now get their benefits and pensions through Landbank’s 1000 automated teller machines and Union Bank’s 224 ATM.

 

He added more are expected to receive survivorship benefit as it now includes the employed spouse of a deceased member and GSIS members who receive pension from other institutions.

 

Aquino said he fully supports the agreement between the GSIS, Department of Budget and Management and Department of Education to resolve the delayed payment of premiums of at least 800,000 teachers and put them in current status.

 

He also lauded the GSIS’ decision to turn over to the National Museum the management of its art collection.

 

“Kung dati, naging abala ang GSIS sa magagarbong art collection, ngayon, nalalapit nang mailipat ang pamamahala nito sa National Museum at balik po ang GSIS sa kanyang tungkulin,” he said.

 

The President also noted the 26 percent increase in social insurance claims and benefits the GSIS paid in 2011 at P53.3 billion compared to P42.2 billion in 2010 and the recorded P60.4 billion net revenues in pension fund for 2011.

 

“’Di po ba’t sa mga positibong numerong ito, mas epektibo at mas malawak na serbisyo ang inihahatid ng GSIS sa kanyang mga miyembro at benepisyaryo?” he said. –KG, GMA News