House Assistant Majority Leader and Cebu Rep. Eduardo Gullas informed that the money will be drawn from the Miscellaneous Personnel Benefits Fund under the proposed P1.816-trillion national budget for 2012.
“The P2.5 billion allotted for 2012 is just the initial payment. The DBM said the entire balance will be settled in installments over the next five years,“ he said.
“We welcome President Aquino’s decision to address the unpaid obligations. This will restore the GSIS membership of thousands of teachers, and enable them to reap the commensurate benefits,” Gullas said.
“Our teachers deserve absolute support. They are already overworked and underpaid as it is. We should make it fairly easy for them to obtain loans and other benefits from the GSIS,“ the Visayan lawmaker who is a member of the House Committee on Appropriations said.