BCL liquidation bill tops P1.6bn
Wednesday, November 22, 2017
Minerals, Green Technology and Energy Security minister, Sadique Kebonang
The P1.6 billion bill includes the cost of the ongoing care and maintenance of the mine, terminal benefits for former workers as well as the liquidator’s expenses.
Minerals, Green Technology and Energy Security minister, Sadique Kebonang said on Monday that for the period October 2016 to February 2018 government has committed P1.2 billion towards the cost of the liquidation process.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...