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Wednesday, August 13, 2003
GSIS denies using members' premium for Parisian Life
GOVERNMENT Service Insurance System (GSIS) once again denied persistent rumors that the P46 million Juan Luna painting "Parisian Life" was bought using contributions of members.
GSIS Vice President for Public Affairs Mer Nilo Racimo stressed that the money used to purchase the painting was sourced from GSIS' Social Insurance Fund.
The fund, according to him, comes from the insurance fees collected from 1st class cities and municipalities.
"Properties of government offices located within these areas pay a ceratin amount to the GSIS to have their assets insured from earthquake, floods, and fire," he told reporters who attended Monday afternoon's press conference and opening of the "Parisian Life" painting exhibit inside SM City Davao.
He said the agency has the authority to use the fund for the painting's purchase but maintained that the exhibit is not an effort to justify the artwork acquisition.
GSIS, according to Racimo, has a P181 billion fund available for investment.
"There is enough money for everybody," he said as he denied earlier reports insinuating inadequate funds as the reason for the temporary suspension of salary and policy loans processing.
Meanwhile, in stressing the importance of the painting, Eric Zerrudo, GSIS Director for Cultural Facilities, added, "Parisian Life's exorbitant price may be attributed to its high significance level."
"We should not measure a national treasure in centavos or in pesos," he stressed, adding that the painting itself represents a piece of our history and is in fact a reflection of our culture.
GSIS in 1996 established the Museum of Art which services about 200,00 students and visitors a year.
Aside from its latest acquisition, the GSIS Museum also boasts of paintings and sculpture pieces by noted Filipino artists Hernando Ocampo, Fernando Amorsolo, Botong Francisco, and Vicente Manansala, among others. CEU
(August 13, 2003 issue)
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