COA asks PCGG to explain P59.4M in undocumented cash disbursements

The Presidential Commission on Good Government, the government panel charged with recovering ill-gotten wealth, must itself explain around P59.4 million in undocumented cash releases, according to a Commission on Audit report.

 

According to a report on "State of the Nation with Jessica Soho" aired Friday evening, the Audit commission has recommended an inventory of the PCGG's stock certificates and better monitoring of the commission's books because of the unliquidated spending.


 

PCGG Chairman Andres Bautista said in the report that the disbursements were related to two Marcos cases and that the money was used for travel expenses and attorney's fees.

 

Bautista added it has been difficult to track the money because of the former involvement of the Philippine National Bank.

 

"Kasi nga dati PNB was a government bank kaya PNB ang ginawang escrow agent, pero... yung PNB na privatize," he said. He said the money is not missing and that the board will coordinate with the PNB to reconcile records.

 

The COA also said the PCGG has undocumented receivables of around P16.8 million from Manila International Port Terminal Inc., prompting it to urge better monitoring of sequestered assets. — JDS, GMA News