Malampaya Fund: Where is it now?

[masakiton]

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to answer a little to you question.. its here and here, i heard rumors for this, thought cant confirm....

sala sa previous admin
na mana ra ang problema

[King LeBron]

Cory blamed Marcos corruption & martial law
Ramos blamed Cory's economic crisis
Erap Blamed Ramos lack of funds & corruptions
Gloria Blamed Erap's corruption
Pnoy blamed Gloria's corruption
Somebody will soon blame Pnoy's govt.
....db walang katapusan? pero actually tanan gpasa-pasa lng ang problema.

mao jud. ambot kanus-a kaha ta maka-experience ug dili bata2x-un ug pangutok nga mga politiko ani.

blaming is the name of the game lang pirme. smh

[amingb]

@Nefarian

"Wala nay CASH in hand sa MP fund kay tungod tua napadulong sa General Fund sa National Budget. Pero "intact" in a sense kay gi BORROW raman ang MP fund padung sa General fund. I hope ma gets ninyo hehehe."

Asa man ka nanguha ana nga baload bro nga nahulog na ug borrowing sa goberno then bayaran lang ... kindly state daw or imoha2x rana ....

[amingb]

Karong lang jud na nanggawas ilaha explanation na na bestow na nga na zero balance ... mao na kinahanglan najud ta ug FOI bill ... mga spin doctors maning taga malancanyang.

Wa jud ta kabalo ug na adto bajud na sa General Fund ... blind jud kaau ang mga Pinoy ...

[letsee!]

masakiton
Agree ko nimo sir....but for me one reason is because we are always voting trapos nga gabalik-balik napod sa pwesto...murag wala nlng jud lain makamao mugunit sa goberno kay cge ta ug botar anang mga trapo... mga amahan ug anak , mga parente, ug mga tiguwang na mga hasler na sa corruption!

we are mostly to be blame pinoy!

[salbahis]

Hehehe. Ang remaining balance man daw ilang gi ask asa na daw. 130B man guro. Katong 18B gigamit ni Pnoy mao na uban gipangpalit.

aw kato diay.... toink... secret...

[Nefarian]

@Nefarian

"Wala nay CASH in hand sa MP fund kay tungod tua napadulong sa General Fund sa National Budget. Pero "intact" in a sense kay gi BORROW raman ang MP fund padung sa General fund. I hope ma gets ninyo hehehe."

Asa man ka nanguha ana nga baload bro nga nahulog na ug borrowing sa goberno then bayaran lang ... kindly state daw or imoha2x rana ....

Regarding sa legality anang movement/borrowing the MP fund to the National Budget and Back is not the issue here. Although PD 910 states that the MP fund is exclusively for energy-related projects,

But take note this is done with the full knowledge of Congress as they are ones who approve the budget. Even if by law the fund is intended primarily for energy-related use, the fact that Congress consents to BORROW it for the NATIONAL BUDGET means that is the current legislative intent.

So either they amend PD910 or just leave it as is. I heard they are going to amend it but lets see.

Sometimes a leader has to take an initiative if he feels there's a need for it. Maybe it is an unpopular decision but then it defines what kind of leader you are. Either BAYOT KA or ISOG KA.

"Dissent is the highest form of patriotism"

[amingb]

@Nefarian

PD 910 dapat jud amendahan kay Marcos paman na nga balaod unya approban ang FOI ... wa nay blema basta lang gi tarong ug gamit ang funds .. dili naman pud na ma accounting kana nga Funds kay gi commingled naman sa General Fund .... or wala ta kabalo ug gi unsa nila pag gamit kay na bestow naman na sila nga zero in cash na ....

wa pud ta kabalo ug naa na diri .... PDAF misuse continued under Aquino: survey | BusinessWorld Online

[CobraEnergy]

sila ray nakabalo asa ang kwarta padung...

[<SMILE>]

The government—both at the national and local levels—was apparently
not prepared for the promise that the Malampaya natural gas project
would bring.

The biggest single investment in Philippine history
has been operating for 8 years, and has paid the government US$3.12
billion so far. The government expects revenues of up to $10 billion
from Malampaya’s 20-year operations.

Less strict
rules govern the national government in utilizing its share in energy
production revenues. In the case of the Malampaya project, if the
national government wins the case, then it gets to corner all $10
billion until 2022. Pending the Supreme Court decision, Malacañang is
free to allocate 60% of the net revenues that, as of April 2009,
amounted to $1.05 billion.

Section 8 of Presidential Decree 910
(An Act Creating the Energy Development Board) signed by President
Ferdinand Marcos mandates: “All fees, services and receipts from any or
all sources including receipts from service contracts and agreements
collected by the Department of Energy shall form part of a special fund
to be used to finance energy resource development and exploration
programs and projects of the government and for such other purposes as
may be directed by the President.”

Republic Act 7638, which
created the present Department of Energy (DOE) made an amendment to PD
810 by allowing the disbursement and use of 20% of the outstanding
balance and monies of the special fund for the expenses of the DOE.

In
her 2008 State of the Nation Address, President Arroyo declared that
there will be a release of funds from the Malampaya national revenues
to support the rice-sufficiency programs of the government.

Three
months later, she signed Administrative Order 244 that authorized the
release of P4 Billion to the Department of Agriculture. Half of the
amount was allocated for agricultural guarantee fund pool that provides
guarantee-cover to unsecured loan financing to small rice farmers. The
remaining P2 billon was allocated for the rice sufficiency and
commodity program that would augment DA’s fund for seeds and
interventions to address rice sufficiency

At
the House of Representatives, there are bills seeking the use of the
Malampaya revenues for the modernization of the Armed Forces of the
Philippines.

House Bill 594 by Quezon Rep. Danilo Suarez wants to
allocate and transfer to the AFP Modernization Act Trust Fund the share
of the national government from the natural gas project. House Bill
3665 by Sorsogon Representative Jose Solis is similar to Suarez bill,
but it also wants to include other applicable mining taxes and fees to
the amount to be transferred to the AFP.

A former DOE official,
who requested not to be named so as not to preempt the current
officials, said an amendment has to be passed to change the way
proceeds from energy production activities are utilized.
Malampaya funds

Ila na gipang-allocate,