MANILA, Philippines—Senator Panfilo Lacson on Wednesday stressed the need to investigate the Philippine International Trading Corporation’s functions, which he called a redundant agency. The PITC, essentially, has a similar function to the Procurement Service of the Department of Budget and Management, which makes it redundant. But funds with the PITC become idle and are returned to the Treasury,” he said. Lacson added that the Senate should revisit the functions of the PITC, an agency that was formed through Presidential Decree 252 in 1973. Moreover, money deposited into the coffers of the PITC will never be realigned even if, Lacson said, the heads of the government branches would like to.

Source: Philippine Daily Inquirer November 25, 2020 10:07 UTC