1Sambayan is calling on Finance Secretary Frederick Go and National Treasurer Sharon Almanza to immediately return the P107.23 billion belonging to the Philippine Deposit Insurance Corporation (PDIC).
In a statement issued on Sunday, the coalition explained that the transfer was made pursuant to Special Provision 1(d) of the Unprogrammed Appropriations under the 2024 General Appropriations Act (GAA), as implemented through DOF Circular No. 003-2024.
“The P107.23 billion does not belong to the government. It is held in trust for bank depositors, who are the fund’s beneficial owners. Any diversion of this money violates both statutory and constitutional limits,” the statement reads.
It can be recalled that the funds were remitted to the National Treasury in January 2025.
The coalition, founded by former Supreme Court (SC) Senior Associate Justice Antonio Carpio, explained that the High Tribunal has already ruled that transfers made are unconstitutional.
In December, the SC categorically declared void the special provision as well as the transfer of PhilHealth’s P60 billion fund balance to the National Treasury, citing grave abuse of discretion and multiple violations of the Constitution.
“By this ruling, Special Provision 1(d) and DOF Circular No. 003-2024 were stripped of any legal force. They cannot serve as authority to transfer the funds of any government-owned or controlled corporation to the National Treasury,” the coalition said.
“The decision is now final and executory. PDIC’s P107.23 billion was transferred under the same provisions already declared void by the Supreme Court. The Department of Finance and the National Treasury are therefore under a clear legal duty to return the funds without delay,” they added.
In a message to Manila Standard, Carpio said they might file another petition with the SC in case the return does not take place anytime soon.
