Pangilinan: Saan napunta ang trilyong utang para sa Covid?
Pangilinan: Saan napunta ang trilyong utang para sa Covid?
VICE presidential aspirant and Senator Francis 'Kiko" Pangilinan demands greater transparency from the government and urged the public to be more vigilant after the Philippines' borrowings to finance the fight against Covid-19 reached P1.15 trillion.
"Malaking alalahanin ang utang dahil babayaran ito (The country's rising debt is becoming worrisome as it carries with it the obligation to repay our creditors)," Pangilinan said.
"Bukod sa kakayanang magbayad, ang tanong ay ginagamit ba nang maayos ang utang? Walang puwang sa pagwawaldas dahil tao ang nagdurusa (But more than the ability to pay, government must show its mettle in putting borrowings to good use. There should be no room for underspending and misspending as ultimately it is the people who will suffer)," he added.
"Saan napunta ang trilyong utang sa Covid? Hindi natin naramdaman. Ni hindi pa rin libre ang testing," Pangilinan said.
The senator acknowledged that it is normal for governments to borrow especially in times of crisis, when borrowing can serve as lifeline. But debts that go to corruption will deprive the people of badly needed basic and social services, Pangilinan said.
According to reports, while the Covid-19-related loans totaled $22.58 billion, the Department of Finance said that the total financial cost--including interest payments --amounted to a bigger $28.91 billion or P1.47 trillion.
"Sa laki ng nautang para sa pagtugon sa pandemya, dapat libre na ang antigen at RT-PCT test at hindi na pinapagasta an gating mga kababayan. Dapat mas maraming mahihirap at drayber ang nabibigya ng ayuda," Pangilinan said.
"Dapat mas maraming OFWs ang naaalalayan na makahanap ng bagong pagkakakitaan sa bansa. Dapat mas maraming trabaho ang naiaalok sa mga walang hanapbuhay," he added.
Money sourced from debts must trickle down to the benefit of the people and plough back to the economy to make the economy's rebound faster.
"Dapat busisiin ng mga Pinoy kung papano ginagastos ang mga utang. Nakasalalay dito ang pagbangon ng ekonomiya natin (The Filipinos must oversee the government's spending of borrowings more than ever. Our economy's recovery is at stake)," Pangilinan said.
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