Based on PhilHealth’s 2019 financial statement, it has P111 billion in liabilities and P109 billion in equities, which is a debt to equity ratio of 1 is to .99, Sotto said.
This could be lower if the Senate does not take into account the P14 billion increase in equity based on “prior year adjustments” that the agency has yet to justify, he said.
He cited the case of recently resigned Senior Vice President Rodolfo del Rosario, who was administratively charged with budget insertion in connection with the construction of PhilHealth’s corporate center when he headed the Physical Infrastructure Resource Department.Del Rosario’s fellow respondent was dismissed but he was found guilty of only simple neglect of duty and fined an amount equivalent to 15 days of his salary, Sotto said.
The IRM is an emergency fund to be used to help medical establishments in dealing with “fortuitous events” such as the current pandemic. Sotto said they had already furnished the Department of Justice with documents and other evidence for the filing of appropriate charges against Duque, who chairs the PhilHealth board, and the others.
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