FORMER President Rodrigo Duterte said the country is already bleeding money due to the P250 billion Maharlika Fund and the estimated P129 billion gold reserves sale that the administration could not account for.
Duterte made the statement during a press conference in Davao City when asked if there would be a potential people’s movement in response to the country’s current issues. He also mentioned the realignment of savings from the government-owned and controlled corporation back to the treasury.
“Filipinos need to know that the country is in hemorrhage. And even PhilHealth—which is not directly managed by the government—is suffering. We contributed to it because if you need hospitalization, you pay depending on your category,” he said.
He said government officials must be sued for estafa and malversation. The Supreme Court already issued an injunction to stop PhilHealth from transferring its savings to the national treasury. From the original P89.9 billion, the Department of Finance already withdrew some P60 billion from PhilHealth’s savings before the temporary restraining order in October this year.
“You used our money—even Congress cannot do that. It’s a trust fund, it’s from you and me. It’s our contribution, meant for situations like when someone gets sick with cancer or needs surgery,” Duterte explained.
Duterte continued: “The government right now has no projects. You don’t see any projects, only maintenance, only aid programs like [AKAP, AICS, TUPAD]. And they’ve exhausted all of it.”
“It was all used up by Romualdez. He’s just a congressman but he’s giving away money left and right—our money. God, Romualdez, have mercy on us,” he added.
He also highlighted the loss of the P250 billion Maharlika Fund, designed to be a sovereign investment tool the government can use to invest in foreign currencies, real estate, corporate bonds, and infrastructure, among others.
“The target for the Maharlika Fund was P250 billion but they took P62.5 billion from GSIS—that’s money from government employees,” he explained. “For workers like us… housing loans, that money was taken and used for aid. Now, members of these organizations won’t be able to get loans, and it will affect their children’s education, causing anomalies in the system.”
He also pointed out the losses from other funds: “The SSS lost P62.5 billion for employees; LBP [Land Bank of the Philippines] lost P62.5 billion; DBP [Development Bank of the Philippines] lost P62.5 billion. This affects the military and their retirement funds.”
“There’s an example with PhilHealth where they are being criticized. The money in PhilHealth is not theirs, it belongs to the people. The problem is that they’re left with the bill to cover, and what remains from the original funds—like PhilHealth—went from P89 billion to only P29 billion,” he said.
“So, if there’s no money, what will they do? They have no more to juggle. It’s already in their hands. What else do they have to juggle? Juggle the funds in [ayuda] aid program,” Duterte added.
No more Duterte magic
Duterte said he does not believe in a mass movement: “I know no one will go there. The so-called ‘Duterte magic’ is long gone. I’ve already said I’m retired. I don’t need to be in front, back, or on the side. I’m retired, and you can rate me from 1 to 10—pick a number. There’s no more Duterte magic.”
He continued, “It’s just media talk. That’s what I did before.”
However, on social media, many netizens and Duterte supporters are still hoping that the former president will take action regarding the country’s current situation.
“The people aren’t listening to me anymore because I no longer have power. I’m getting old. About seven months ago, I tried riding a motorcycle again, and I could still walk. But when I fell, I had a small crack, and I don’t want to undergo surgery. I just decided to use a cane,” he shared.
Photo by Bing Gonzales
