Debates on PhilHealth fund transfer end

After five days of public debates, the Supreme Court concluded yesterday the oral arguments on the petitions challenging the constitutionality of the transfer of P89.9 billion unused funds of the Philippine Health Insurance Corp. (PhilHealth) to the national treasury.

- By DAPHNE GALVEZ

"Considering that the oral argument has been concluded, we will require the parties to submit their respective memoranda, including the amicus curiae (friend of the court), within 30 days from today," Chief Justice Alexander Gesmundo said.

During the hearing, Finance Secretary Ralph Recto warned that the country could risk losing its bid for a credit rating upgrade if the SC decides favorably on petitions for the return of P60 billion in "idle" funds to PhilHealth.

"If the ruling (to return the money to PhilHealth) were for 2025, that will add a fiscal pressure to our deficit and that would entail us not hitting our deficit targets this year," Recto said.

"And if you miss that, then we may not attain our coveted credit rating upgrade that we foresee in the next 18 months," he said.