Home » Maritime » Look elsewhere for funds, NEDA tells PCG

THE National Economic and Development Authority (NEDA) has asked the Philippine Coast Guard (PCG) to look for other ways to finance the purchase of up to nine helicopters under its Maritime Disaster Response Helicopter acquisition project.

Acting NEDA director general Augusto Santos said budget constraints and the project’s non-priority under the Department of Transportation and Communications’ (DOTC) 2011-2016 medium-term expenditure program are standing in the way of its approval.

While the program was certified urgent by the DOTC, it only ranks fourth in importance among DOTC’s new proposed foreign-assisted projects for water transportation.

“The ICC (Investment Coordination Committee-Cabinet Committee) instructed PCG to explore in coordination with the Department of Finance the possibility of a lease arrangement or similar financing alternatives for the 7 helicopters and to subsequently submit a report of the matter for further ICC-CC consideration,” Santos said in a letter to Transport undersecretary Thompson Lantion.

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