COA: think tank fund unspent, unaccounted for

By , on September 4, 2014

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MANILA — Questioning the use of P600 million from the Disbursement Acceleration Program (DAP) that was given to a government think tank, the Commission on Audit (COA) said that a huge part of it remained unspent or unaccounted for.

COA noted on its 2013 annual report that of the total funds granted to the Philippine Institute of Development Studies (PIDS), P213 million remained unspent in Landbank accounts.

PIDS, an attached agency of the National Economic and Development Authority (NEDA) is a nonstock, nonprofit state corporation that functions as the government’s research arm.

It provides studies and research papers that aides the government in the national planning and policy-making.

Created in 1977 by virtue of Presidential Decree No. 1201, the agency has a research program called the PIDS Research Agenda, that is updated every five years.

The Research Agenda aims to respond to the country’s emerging economic and social issues.

COA, however, said that the funds given to the agency did not accelerate spending, which is the primary goal of DAP.

“The expected amount that should have flowed as stimulus to boost the economy remained in the possessions of these agencies,” COA said.