THREAD: @iampinkywebb goes straight to #TheSource of the story — Senator @sonnyangara | LIVE bit.ly/3PaxBWk
Senator Sonny Angara on bicam panel's swift approval of its version of 2023 budget: Parang iceberg kasi 'yan, you only see the tip. But behind the scenes there are hundreds of little conversations going on.
Sen. Angara: We reached a stalemate at some point. We don't want to delay the budget.
Congress restores the controversial ₱150-million confidential fund of DepEd in the proposed 2023 budget.

Sen. Angara: Funds can be used for anything related to safety and security.
Sen. Angara: Confidential funds are reported quarterly to the President or the Senate
Sen. Angara: CIF reports closed to the public, but seen by COA
Sen. Angara says the Agriculture Department's budget is at least 30% higher than last year: A large amount is for food security
Sen. Angara: We asked some agencies to realign about ₱67 million of the budget
Sen. Angara: We trimmed some agency budgets that we found excessive
Sen. Angara: ₱2 billion allotted for Libreng Sakay program

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More from @cnnphilippines

Dec 6
Narito na ang Balitaan kasama si @iampinkywebb | LIVE bit.ly/3FtRm7M

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POEA officer-in-charge Bernard Olalia confirms that the agency has suspended the deployment of OFWs to India: Umpisa na po yung ating deployment ban because of the advisory declaring that India is a non-compliant destination country, as per info from the PH embassy in New Delhi. Image
POEA: There are 3 conditions for a country to be certified as compliant by the DFA. Isa rito dapat may mga domestic laws sila that protect the rights of OFWs. Unfortunately, napag-alaman ng DFA na wala gano'n ang India.
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Dec 5
Join our senior anchor @RicoHizon now on #TheFinalWord

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@RicoHizon The Maharlika Wealth Fund bill proposes ₱250 billion from government pension funds and banks as seed money.

What are its benefits and drawbacks?

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@RicoHizon Itbayat, Batanes Councilor Jesie Estoy says “Yaru” is the voluntary coming together of community members to provide free service for the benefit of others within the community. Image
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Dec 5
JUST IN: After Minority Leader Koko Pimentel’s lengthy interpellation, the Senate approves the bicameral conference committee report on the ₱5.268-trillion national budget for 2023. | @eimorpsantos

Story soon on cnnphilippines.com
@eimorpsantos Sen. Risa Hontiveros voted against the bicam report due to the restoration of DepEd's ₱150M confidential fund, removal of transparency clause

"Nakakapanghinayang na sa unang budget ng administrasyon, Congress has shown its malleability to the whims of the admin" | @eimorpsantos
@eimorpsantos Senate Minority Leader Koko Pimentel also voted NO | @eimorpsantos
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Dec 5
Samahan ang aming chief correspondent at anchor na si @piahontiveros sa #CNNPHNewsNight.

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@piahontiveros GSIS General Manager Wick Veloso on proposed Maharlika Wealth Fund: It was brought up a month ago, but this concept has been there for the longest time... Di lang po natutuloy. (1/2)
@piahontiveros GSIS GM Veloso: Ngayon po, nagbibigay na tayo ng momentum sapagkat magtutulong ang GFIs lagyan ng capitalization ang Maharlika Corp. para ito'y maging investment vehicle to national development (2/2)

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Dec 5
Samahan si @ruthcabal15 sa #NewsroomNgayon — balita at serbisyo para sa Pilipino.

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@ruthcabal15 DHSUD Usec. Avelino Tolentino III says unlike previous housing projects, the funds of the Pambansang Pabahay para sa Pilipino program comes from the sustainable financial structure where money from private banks can meet the housing interest subsidy.
@ruthcabal15 DHSUD says the eligibility of beneficiaries comes from the local government unit (LGU).

It adds LGUs must ensure that the beneficiaries will be the ones who live in the houses.
Read 10 tweets
Dec 5
A sovereign wealth fund is a state-owned investment fund comprised of money generated by the government, often derived from a country's surplus reserves. #CNNPHAsks bit.ly/3ULH9IB
Funds of the proposed Maharlika Wealth Fund will be sourced from major pension funds and government banks, namely GSIS, SSS, Land Bank, and DBP.

The MWF would boost a "fund that will take care of future generations," Finance Secretary Ben Diokno said.
But some senators said there is still a need to further study the MWF.

Certain provisions of the bill have to be clarified, like where the fund's seed money will come from and who will manage the fund, Senate Minority Leader Koko Pimentel said. bit.ly/3ULH9IB
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