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IBC-13 gets zero budget anew
By Cynthia Montojo
"Some even told me to bring this matter to Commission on Human Rights," IBC-13 President Jose Policarpio Jr. said bogged down by financial instability, state-owned Intercontinental Broadcasting Corp. is again appealing for fresh funding from Congress to pay around P500 million in benefits long overdue to its retired employees.
IBC-13 received zero funding in proposed budget for 2024 and has been bleeding government asset for years due to financial woes and management issues.
Department of Budget and Management did not allocate funding for broadcasting network for 2024 as it was up for privatization. But plans to auction it off have stalled in recent years as its market value falls short of P1 billion required by law to be sold.
As result, when it also received zero funding in proposed 2023 budget last year, broadcast network had to rely on "alms" and appeal to lawmakers for funds, Policarpio told House appropriations committee on Tuesday. IBC-13 is under budget of Presidential Communications Office.
To avoid closure, CEO of IBC-13 said they need around P1.245 billion to keep operations running this year.
However, IBC exec said nearly half of this or P500 million will go straight to paying benefits of 137 retired workers, some of whom have been waiting for payout for nearly two decades.
Many former IBC-13 workers have also died without receiving their benefits, Policarpio stressed.
Rep. Marissa Magsino (OFW Party-list) expressed sympathy for IBC-13, acknowledging it may be more difficult to market broadcast network with outdated and limited equipment compared to those privately owned. Policarpio also lamented large amount of compensation overdue to its retired employees, saying that after 29 management changes, large debt it owes is "embarrassing."
House of Representatives in January,2023 approved renewal of legislative franchise of IBC-13 for another 25 years.
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