MANILA, Philippines – The two state-owned pension funds are waiting for investment opportunities under the Aquino administration’s Public-Private Partnership (PPP) program.
The Government Service Insurance System (GSIS), the pension fund for state workers, and the Social Security System, the fund for private sector employees, are currently scouting for investment opportunities to grow their funds.
Investing in the government’s PPP projects is one option for them, officials from the two pension funds said.
A GSIS official said roughly P30 billion in its funds are ready to be reinvested.
“It’s from the GSIS offshore investments,” the official, who requested not be named, said.
This as GSIS decided to unwind its investments abroad amounting to P32 billion, saying that it is practical and more lucrative to invest in the Philippines.
Earlier, GSIS president and general manager Robert Vergara said that aside from investing in PPP projects, the agency would be investing heavily in the energy and power sectors as well as in companies in the retail and consumer sectors.
GSIS decided to unwind its investments abroad because most of its liabilities are in pesos. It believes that it is not necessary to invest in foreign currency which may expose GSIS funds to currency risks.
The Aquino administration is eyeing to issue infrastructure bonds to finance projects under its PPP program.
Proceeds of the bonds would help fund solicited infrastructure projects within the next three years.
The bonds, to be issued locally, will mature in 20 to 25 years or less depending on the terms or length of the infrastructure project.
The government is eyeing some 10 infrastructure projects to be launched this year and another 10 projects in 2012.
The government is also finalizing talks with multilateral agencies on how they can participate in the planned PPP program for infrastructure funding.
In a separate interview, SSS president Emilio de Quiros said the agency is waiting to invest in the government’s infrastructure bonds for PPP projects.
He said this is among the options the agency is exploring to grow its funds. Other options include growing its investments in stocks or companies listed in the Philippine Stock Exchange. –Iris C. Gonzales (The Philippine Star)
September 18 –
International Equal Pay Day
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more than other cost items.
For widespread, practical equality!”
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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