Tedday2223
Member
MALACAÑANG has proposed a P50-billion budget for the Armed Forces of the Philippines's (AFP) modernization program for 2025. "In the 2024 national budget, the sum of P50 billion in capital outlays has been earmarked to be used exclusively to support the funding requirements of the military's ongoing modernization projects," Surigao del Sur 2nd District Rep. Johnny Pimentel said on Sunday. "The amount is 25 percent, or P10 billion, higher than the P40 billion appropriation for the acquisition and upgrading of military hardware and systems in the 2024 national budget," Pimentel said. "Congress is absolutely determined to keep up the funding for projects that are meant to build up the military's national defense capabilities," he added. The House of Representatives is in the midst of budget deliberations. On August 29, the Department of National Defense (DND) will defend its budget proposal before the House Committee on Appropriations. Under the Revised AFP Modernization Program Law of 2012, the defense secretary administers the funds for modernization. The allotments would be issued only upon the DND's submission of a recommendation from a bids and awards committee. Last April, the Department of Budget and Management released P6 billion, representing the fourth milestone payment for two missile corvettes ordered by the government from South Korea's Hyundai Heavy Industries Co. Ltd. The vessels, worth P28 billion, are due for delivery to the Philippine Navy in 2025 and 2026. President Ferdinand Marcos Jr., through Budget Secretary Amenah Pangandaman, submitted the NEP for 2025 to the House last July 29.
