The Energy Department seeks an investigation into allegations of P25 billion worth of missing Malampaya fund.
“We collect that money [but] that money is not in our custody…On how the disbursement, the utilization, the DOE has no power to disburse,” Energy Secretary Alfonso Cusi said.
The Malampaya fund consists of proceeds from the Malampaya natural gas project in northwest Palawan and other oil and gas producing assets in the country.
Occidental Mindoro Rep. Josephine Ramirez-Sato earlier asked the Bureau of Treasury to account for the alleged P25-billion “missing” funds, citing doubts raised by the Commission on Audit.
COA said the figures did not match those in subsidiary ledgers kept by the Treasury.
“It’s being looked into. The one allegedly missing, but they cannot disburse the money. There is record of disbursement, but it is not with us,” Cusi said.
Data from the Energy Department showed that collections from the Malampaya fund reached P241.377 billion between January 2002 to June 2017. Of the total amount, P47.746 billion was already disbursed.
Cusi proposed that a part of the Malampaya fund be used for energy projects “to help bring down the tariff, pay for stranded costs and debts so the people no longer have to pay.”
“We want to also use that for energy infrastructure development…We have to develop reliable, secure and sustainable energy supply,” he said.
Energy Undersecretary Felix WIlliam Fuentebella earlier said the department was closely coordinating with Congress on the passage of a law that would allow the department to tap the Malampaya fund.
“We are studying how we can avoid further increases in the universal charge,” Fuentebella said.
“We need laws. We have not finished talking with Congress [on the use of the fund],” Fuentebella said.