The Federation of Philippine Industries (FPI) has urged the administration of President Ferdinand Marcos Jr. to take swift and decisive action on the multi-billion-peso ghost flood control scandal which it said has exposed long-standing corruption issues and triggered widespread public outrage.
The scandal involves allegations that government officials and contractors misappropriated funds intended for flood control projects, draining public coffers and contributing to the country’s worsening flooding problems.
“Citizens and the business community are demanding justice. This case goes beyond missing funds—it is about restoring integrity and public confidence in governance,” the FPI said in a statement.
The business group said the ghost flood control scandal is “a grave betrayal of public trust.”
To ensure accountability and the recovery of stolen assets, the FPI called for a unified response from key government agencies.
The group urged the Anti-Money Laundering Council (AMLC) to expand its inquiry to include foreign-based assets and to coordinate with international agencies to recover funds laundered overseas.
FPI also noted that continued action against smuggled luxury assets could help trace and recover ill-gotten wealth connected to the anomalous projects.
The business federation also called on the Bureau of Internal Revenue (BIR) to immediately file tax evasion cases to demonstrate that corruption carries real consequences. Similar petitions were urged with the Insurance Commission (IC) for the prompt recovery of funds through performance bond claims.
The group pressed for stricter vetting of contractors and greater transparency in the operations of the Philippine Contractors Accreditation Board (PCAB), following reports that some board members may be linked to anomalous projects.
The FPI also urged the Securities and Exchange Commission (SEC) to enhance transparency and ease access to corporate records to expose hidden links and rebuild investor confidence.
It called on the Land Registration Authority (LRA) and the Land Transportation Office (LTO) to supply essential information on property and vehicle ownership to help authorities trace hidden assets and wealth accumulated through illicit means.
“By mobilizing the full force of law and the cooperation of all concerned agencies, the Marcos administration can send a clear message that corruption will not be tolerated. We trust the government will act decisively to recover stolen funds and uphold public accountability,” the FPI said.
