The Commission on Audit (COA) has claimed that the deal between the Bureau of Corrections (BuCor) and the Tagum Agricultural Developmental Co. Inc. (Tadeco) was “disadvantageous” for the Philippine government. ADVERTISEMENTCOA recommended that BuCor should meet with Tadeco to discuss a raise in the agreed profit share. The findings also revealed that there was a discrepancy in the total reported volume of bananas from the total actual volume of exported bananas. “The total volume of bananas exported to various countries by Tadeco differ from the actual volume of bananas reported in the monthly production report submitted to BuCor,” COA noted. “(This) resulted in the under-remittance of the profit share by Tadeco totaling P5,826,567.01,” it added.

Source: Philippine Daily Inquirer August 30, 2018 11:15 UTC