Dominguez: No assets will be sold for COVID-19 funds

President Duterte’s chief economic manager is firm: No government asset will be sold to finance the country’s war against the new coronavirus disease (COVID-19) pandemic.

Asked over the weekend if he had new discussions with the President after presidential spokesperson Harry Roque said the government was

ready to dispose of assets to buy vaccines, Finance Secretary Carlos Dominguez III

replied: “No.”

Roque told a televised briefing last week: “Iyan po ang paninindigan ni Presidente—buhay muna bago ari-arian (That is the stand of the President. Lives take precedence over properties).”

Mr. Duterte also previously mentioned willingness to sell the Cultural Center of the Philippines and the Philippine International Convention Center, among other prime property assets along Roxas Boulevard as “the last resort” to augment crisis funds.

Dominguez has repeatedly said the country has not reached that point. He also doubted any “fire sale” of public assets would ever happen. Fire sale is the sale of goods or assets at very low prices.

Dominguez had explained that while the government had money, it was mandated to spend only the amount set aside under the yearly national budget.

This was why the expired Bayanihan to Heal as One Act empowered the President to realign funds in the P4.1-trillion 2020 budget as well as last year’s continuing appropriations for COVID-19 response. INQ