Senator Nancy Binay on Thursday urged the Department of Tourism to evaluate the initiatives of Nayong Pilipino Foundation (NPF) after the Commission on Audit (COA) reported that its funding might be totally depleted in 5 – 6 years.
Binay, Senate tourism committee chairperson, mentioned the DOT ought to evaluate the P1.5 billion tourism cultural theme park which was already accepted by the National Economic Development Authority (NEDA).
She mentioned that is the very first Public-Private Partnership mannequin for a cultural theme park which was in step with NPF’s mandate to showcase Filipino tradition and discover alternate sources of earnings.
“Given their fiscal situation now, I would side with COA’s opinion that Nayong Pilipino needs to come up with alternative revenue sources for its operations, kasi kung walang konkretong plano o proyekto para magkaroon ng income, at walang movement para maging sustainable ang operations ng NPF, paniguradong masisimot kung anumang pondo ang meron sila,” Binay mentioned in a Viber message to GMA News Online.
“Again, DOT can also look into NPF’s financial and sales projections in the next 5-10 years. Tingnan din ng DOT ang ibang activities that crossline the department’s programs, o ‘yung mga corporate function that somehow duplicate what other agencies are already doing,” she added.
But Binay mentioned the NPF is meant to be a self-sustaining government-owned and -controlled company (GOCC) with the earnings coming from a number of items of prime property that they personal and lease out which incorporates the 15-hectare property that they personal in Aseana.
“It’s really up to them how they can maximize their property to be of highest and best use. The NPF needs to think out-of-the-box to generate a decent income—but the first step is not getting out-of-the-box. The most important first step for NPF is to ‘Think,’” she added.
While the federal government can infuse cash to NPF by means of the annual funds, Senator Francis Escudero mentioned the DOT and the Governance Commission for GOCCs should examine the COA report and see the way it can enhance its present scenario.
For Senator Sherwin Gatchalian, the NPF ought to be privatized as he believed that the personal sector is “better equipped” to handle industrial institutions.
The chairman of the Senate committee on fundamental training mentioned NPF ought to nonetheless be maintained because it supplies necessary instructional expertise for the scholars.
Based on COA’s 2022 Annual Audit Report on NPF, the inspiration’s fund stability is just at P646.928 million as of the top of 2022.
The stability, COA mentioned, is basically funded by belief account/funding funds (TA/IF) managed by Land Bank of the Philippines and the Development Bank of the Philippines.
The quantity invested within the TA/IF is from the advance leases and different charges paid by the Resorts World Bayshore City, Inc., totaling P1.232 billion.
COA additionally famous that NPF didn’t introduce income-generating actions.
In response to the audit findings, NPF mentioned it has been very cautious in spending and disbursements.
NPF mentioned that to attenuate the operational prices, the administration explored and maximized partnerships in every of its actions and initiatives with the DOT and different related businesses with out compromising the standard of service.—AOL, GMA Integrated News
Source: www.gmanetwork.com
