The Department of Finance has directed the Government Service Insurance System and the Land Bank of the Philippines to assist the Philippine Crop Insurance Corp. in managing the risks and enhancement of its investment portfolio.
GSIS President-General Manager Rolando Macasaet said that compared to PCIC, the GSIS spends only around three to five centavos for every peso it gives out. Dominguez told PCIC President Jovy Bernabe to instruct the firm’s treasury office handling the corporation’s investments to coordinate with the GSIS in finding ways to increase the yield of PCIC’s P6.8 billion cash assets.
National Treasurer Rosalia De Leon pointed out that the cash being invested by PCIC comes from the subsidy provided by the government, thus, what they are investing in BTr is just like returning to the state coffers money that earns passively by incurring interest.
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