Can We Stop Huge Losses?

In the last 20 to 30 years, losses in taxpayers’ money may yet exceed our imagination. The more common causes are: 1) simple theft/malversation, 2) plunder, if R50 M or more, 3) large-scale smuggling of rice, petroleum, luxury cars through BOC;

Tax evasion

4) large-scale evasion of taxes through BIR, mostly by crooks in the government “service,” 5) under-or-non-delivery and overpricing of materials at DPWH, 6) wasteful purchases of rubber boats, marine engines and helicopters;

7) investment by LWUA of P780 M alone in an insolvent rural bank, 8) cost (kuno) of fertilizer of about P728 M, 9) losses of PCSO and Pagcor, 10) ghost purchases of almost anything, and 11) about a dozen more immense outlets of loss/theft/deceit.

Read more at Manila Bulletin

Con Yap