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                    [ArticleID] => 229939
                    [Title] => Gov’t agencies understate costs of FAPs resulting in expenditure surges
                    [Summary] => Government agencies are routinely understating the costs of foreign-assisted projects (FAPs) causing unpredictable surges in expenditures as the government is ultimately forced to shoulder the difference between the approved and the actual project costs. 


The budgetary impact of understating the costs of foreign-assisted projects has prompted the Cabinet Investment Coordination Committee (ICC) to consider the possibility of penalizing government agencies that hide certain predictable expenses. 


                    [DatePublished] => 2003-12-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 204035
                    [Title] => New deal with Mirant to save government $387-M
                    [Summary] => The government hopes to save $277 million to $387 million under a new agreement between the government, the Power Sector Assets and Liabilities Management Corp. (PSALM) and Mirant Corp. approved recently by the Cabinet. 


Documents obtained from the Department of Finance (DOF) show that the Cabinet approved the contracts under the General Framework Agreement after the Investment Coordination Committee of the Cabinet validated the provisions for Mirant’s Sual and Pagbilao power plants. 


                    [DatePublished] => 2003-04-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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CABINET INVESTMENT COORDINATION COMMITTEE

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    [results] => Array
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                    [ArticleID] => 229939
                    [Title] => Gov’t agencies understate costs of FAPs resulting in expenditure surges
                    [Summary] => Government agencies are routinely understating the costs of foreign-assisted projects (FAPs) causing unpredictable surges in expenditures as the government is ultimately forced to shoulder the difference between the approved and the actual project costs. 


The budgetary impact of understating the costs of foreign-assisted projects has prompted the Cabinet Investment Coordination Committee (ICC) to consider the possibility of penalizing government agencies that hide certain predictable expenses. 


                    [DatePublished] => 2003-12-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 204035
                    [Title] => New deal with Mirant to save government $387-M
                    [Summary] => The government hopes to save $277 million to $387 million under a new agreement between the government, the Power Sector Assets and Liabilities Management Corp. (PSALM) and Mirant Corp. approved recently by the Cabinet. 


Documents obtained from the Department of Finance (DOF) show that the Cabinet approved the contracts under the General Framework Agreement after the Investment Coordination Committee of the Cabinet validated the provisions for Mirant’s Sual and Pagbilao power plants. 


                    [DatePublished] => 2003-04-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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Gov’t agencies understate costs of FAPs resulting in expenditure surges

By Des Ferriols | December 1, 2003 - 12:00am

Government agencies are routinely understating the costs of foreign-assisted projects (FAPs) causing unpredictable surges in expenditures as the government is ultimately forced to shoulder the difference between...

Business

New deal with Mirant to save government $387-M

By Des Ferriols | April 28, 2003 - 12:00am

The government hopes to save $277 million to $387 million under a new agreement between the government, the Power Sector Assets and Liabilities Management Corp. (PSALM) and Mirant Corp. approved recently by the Cabinet....

Business