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Published January 11, 2021, 6:00 AM
A ‘residual cash pool’ of P370 million from the extinct Oil Price Stabilization Fund (OPSF) have been remitted recently by the Department of Energy (DOE) to the national government so it can add up to the state’s budget for the coronavirus pandemic response.
“At DOE, we have some stranded money in our coffers, like the balance of the OPSF which was at almost P370 million, so we returned that to the national treasury,” Energy Secretary Alfonso G. Cusi said.
Energy Secretary Alfonso G. Cusi (Photo credit: https://www.doe.gov.ph)
The remitted amount, he specified, had been intended to help in the government’s need for financial resources to build up its strategy on tackling the impact of the health crisis.