PCGG exceeds annual target

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DESPITE proposals to abolish the Presidential Commission on Good Government (PCGG), the agency said it has exceeded this year’s P336 million target by remitting to the Bureau of Treasury more than P357 million or an output of 106 percent with still five months to go.

“The PCGG expects to recover more than P100 million by the end of the year, for a total recovery of almost half a billion pesos, despite a modest 2017 budget of just P114 million. For the last six years, PCGG has been able to remit a yearly recovery average of more than P12 billion, notwithstanding its modest annual average budget of P103 million, producing an average cost to recovery ratio of P1:130.19,” the PCGG said in a statement.

PCGG Commissioners Reynold Munsayac, Rey Bulay and John Agbayani said the commission is pleased to be able to contribute money that will be used for the programs of the Duterte administration, especially those intended for the farmers since P260 million of the funds collected this year will go directly to the Agrarian Reform programs.

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