Photo Release

Accountability on wasteful spending: Sen. Sonny Angara asks the economic managers of the Marcos Administration on how to promote accountability to prevent inefficient spending by appointees to the Maharlika Fund board. While Finance Secretary Benjamin Diokno was able to enumerate ways on how to prevent the politicization of the Maharlika funds during the Committee on Banks, Financial Institutions and Currencies hearing Wednesday, February 1, 2023, Angara said he had yet to hear from the economic managers their plan against wasteful spending. Diokno said they intend to put a two-percent cap on administrative expense so that funds will not be misused. (Screengrab/Senate PRIB)