Gov’t urged to return PDIC funds

The country’s largest business organizations are urging the government to return more than P107 billion remitted by the Philippine Deposit Insurance Corp. (PDIC) to the National Treasury, warning that the move risks undermining confidence in the financial system.

- By KEISHA TA-ASAN

In a joint statement yesterday, business groups said the transfer of PDIC’s accumulated resources in 2024, recorded as dividend collections from government-owned and controlled corporations, raises concerns about the integrity of the deposit insurance system.

These groups include the Financial Executives Institute of the Philippines, Institute of Corporate Directors, Makati Business Club, Philippine Chamber of Commerce and Industry as well as the Philippine Finance Association.