The controversial Procurement Service under the Department of Budget and Management has kept over P10.8 billion in transferred funds for years without returning the money to the Bureau of Treasury.The Commission on Audit disclosed in the 2020 annual audit report for the PS that over P8.9 billion had been hoarded for over four years until 2020 while the remainder have aged two to three years.
The relatively-unknown DBM agency has been under fire lately after its former executive director, Christopher Lao, was mentioned in the Senate inquiry on the reported mismanagement of P67.32 billion in COVID-19 funds/ Lao, who resigned from the PS last June, is being sought by lawmakers for him to shed light into allegations that the DBM office procured overpriced face masks, face shields and other medical supplies that the DOH ordered using at least P43-billion it transferred to PS last year.
The PS was also asked by COA to inform the client agencies of the remittance to the BTr “so that proper adjustments will be made in the client agencies’ respective books of accounts.”
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