COA: P1.06-B NPO payments to private printers irregular 0 SHARES Share it! In its Report of Checks issued for 2017 and 2018, the NPO paid a total P1.064 billion to private printers. Under the joint venture agreement, NPO shoulders the production costs that the private printers incur for the printing jobs they received from the NPO. “In addition to the said costs, NPO also pays the private printers’ share (50 percent) of net profit from the JV,” auditors noted. While the private printers are given a 50-percent share from the net profit, the NPO still shouldered the production costs.

Source: Manila Bulletin June 22, 2019 09:00 UTC