SENATOR Alan Peter Cayetano has urged the Department of Public Works and Highways (DPWH) to bolster accountability in handling government loans due to
SENATOR Alan Peter Cayetano has urged the Department of Public Works and Highways to bolster accountability in handling government loans due to unclear legislative authority for certain loan-funded infrastructure projects.
The proposals must also undergo review by the Department of Finance to ensure alignment with fiscal policies and repayment capacity, as well as approval by the Bangko Sentral ng Pilipinas Monetary Board to comply with fiscal policies and foreign debt ceilings.“That is what’s in the Constitution. However, there is no law from the Executive in borrowing money, and then we ask this question: Where is this legislative authority to release the money?” he added.
Cayetano cited as example the Laguna Lakeshore Highway Project which affects various areas, including Taguig City.
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