The P137.288 billion in Malampaya Fund remains intact in the national government, the Bureau of Treasury (BTr) on Wednesday said.
In a statement, the bureau denied the claims made by Sen. Ralph Recto about the missing Malampaya Fund, adding that collections and government shares for the 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 de Leon said.
The BTr explained that the Malampaya Fund was created for the purpose of financing energy resource exploration, development and exploitation programs and projects of Government and “such other purpose as may be directed by the President,” as prescribed under Presidential Decree (P.D.) No. 910 issued on March 22, 1976, Creating the Energy Development Board, Defining its Powers and Functions, Providing Funds Therefore, and for Other Purposes, the bureau explained.
It said that “Malampaya Funds” are sourced and collected through the Department of Energy (DOE) from, among others, government share representing royalties and rentals, as well as production share on service contracts and other payments on the exploration, development and exploitation of energy resources, in accordance with P.D. No. 1234 issued on November 8, 1977.
“The Malampaya Funds are considered income and collections authorized by law that shall be remitted to the National Treasury,” it added.
Furthermore, the bureau noted that the total amount deposited by the DOE in the Malampaya Fund from March 25, 2002 to September 30, 2013 amounted to P179.338 billion.
Meanwhile, the total Special Allotment Release Order (SARO) releases against the Malampaya Fund during the same period reached P42.050 billion, leaving a balance of P137.288 billion, which is available in the National Treasury.
The BTr also stated that as funds under SAGF 151, the Malampaya Fund is used to finance energy-related programs of the DOE and/or pay off the national government obligations provided for in the General Appropriations Act (GAA).
The bureau noted that Executive Order 848 issued on October 13, 2009, Authorizing the Use of the Special Account in the General Fund (Fund 151) of the Department of Energy for Purposes as may be directed by the President of the Philippines.
“From 2004 to 2009, the Malampaya account funded P303 million of energy-related projects, as opposed to P23.3 billion of non-energy related projects,” it stated.
On the other hand, the bureau said that under the Aquino administration, the Malampaya fund backed P18.45-billion worth of energy-related projects and did not fund any projects unrelated to energy.
“Similar to other Special Accounts under the General Fund [SAGF], the use of Malampaya Fund is automatically appropriated every year, and all releases are governed by SAGF procedures. Specifically, it requires the certification on actual amount deposited in the account and the issuance of the Special Allotment Release Order by the Department of Budget and Management,” it said. MAYVELIN U. CARABALLO