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Maintenance Fund From Road Users’ Tax Misused?

March 9, 2009


The government of the day is facing enormous socio-economic challenges with 14 months left in its tenure.

It is trying to put together a PhP 300-B economic stimulus package drawing from both public and private sources, including pension funds of workers.

The goal is, of course, laudable and necessary: to pump prime the economy and create jobs while pushing development efforts in the face of massive domestic and foreign job losses.

Sources in the money remittance sector are telling this writing they are already beginning to feel the pinch with the average value of transactions this first quarter of 2009 going down from $ 300 to the $ 280-250 range,

The suspected misuse of 30-billion in road maintenance fund cannot but further erode public confidence that the Arroyo administration can be trusted to implement the economic stimulus efforts with integrity and efficiency.

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