Goodbye Maestrale, Goodbye TA-50?
MANILA, Philippines – Due to scarcity of funds and the fiscal ceilings set by the government, the Senate Committee on Finance has approved only P5 billion of the P15 billion sought by the Department of National Defense (DND) for the Armed Forces of the Philippines (AFP) modernization plan.
Senator Franklin Drilon, panel chairman, said the 2013 General Appropriations Act (GAA) can only allocate P5 billion of the P15 billion needed in 2013 for AFP upgrading.
“We cannot give the whole amount of P15 billion since it is principally a question of where to source these funds because the budget would have a limitation on the source of funds and our deficit level. So these restrictions on the available fund to put in total P15 billion,” Drilon explained.
However, he learned from Defense Secretary Voltaire Gazmin the remaining P10-billion budget will be provided for in unprogrammed appropriations in the 2013 budget.
Senate approves P5B of P15-B Armed Forces of the Philippines upgrade - InterAksyon.com
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