GSIS unaware of probe

The Government Service Insurance System said yesterday it has no knowledge of any investigation being conducted on it.

GSIS vice president for public affairs Nilo Racimo said the agency is not aware of any investigation conducted by the Department of Finance (DOF).

Finance Secretary Jose Isidro Camacho earlier announced that an investigation conducted by the DOF showed the GSIS guilty of delays in processing salary loans and pension applications. Camacho further said "We made certain recommendations to Malacañang as to how the problem should be solved".

Racimo said "senior officials at the GSIS do not recall any investigation, official or unofficial, into the records of the System that was recently made of currently being undertaken by the DOF".

The GSIS official called the attention of the "investigators" to the clean bill given to GSIS by Commission on Audit resident GSIS auditors led by Rey Ventura attesting to prudent management of GSIS finances. The COA assessment belies insinuations that poor financial management has been causing delays in salary loan releases and pension payments.

What the GSIS is aware of, Racimo said, is the call for a congressional investigation on alleged delays in the releases of salary loans and pensions raised by Budget Secretary Emilio Conceding, which GSIS president/general manager Winston Garcia welcomed and urged so the issues would be cleared once and for all.

A congressional investigation would also provide the GSIS with a forum to push for the strengthening of penalties for non-remittance of premiums, a common practice in many government institutions.

Nonetheless, Racimo said the GSIS welcomes Camacho’s probe, "if any", adding that the agency has been "faithfully submitting quarterly financial reports to the DOF".

On Camacho’s alleged recommendations to Malacañang, which the Finance chief would not disclose, Racimo appealed for fair play, saying "before any judgment is rendered, GSIS should be given its day in court".