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Thursday, October 28, 2004
GSIS chief says agency not mismanaged
By Jonathan F. Fernandez
MANILA -- Government Service Insurance System (GSIS) president and general manager Winston Garcia, under fire for alleged mismanagement of the pension agency, faced the Senate Wednesday.
Garcia rejected charges that he mismanaged the state pension fund and entered into anomalous transactions.
During a hearing by the Senate committee on government corporations and public enterprises chaired by Sen. Richard Gordon, Garcia said "GSIS stands proud as the country's top performing government owned and controlled corporation".
"With a net income of P37.5 billion in 2003 - the highest ever in the agency's 66-year history--GSIS is a rock of stability. Last year, we reached our highest asset level in the amount of P297.4 billion and highest reserves and surplus in the amount of P264.1 billion," he told the Senate committee.
Garcia said the pension fund has consistently increased in the amount of claims and benefits paid, reaching a record-breaking P26.7 billion last year.
On the other hand, he said the number of loans processed and granted likewise reached an all-time high of 1,928,933. The amount of loans invested in members, he added, increased from P70.1 billion in 2000 to P107.2 billion as of August 2004.
In 2002, Garcia said the agency started to build a database in conjunction with its full computerization program. He also boasted of the launching of the e-card wherein a member can transact with the agency on-line and get the proceeds through this.
He however did not comment on Juan Luna paintings that he bought, using the GSIS members' money.
But his critics, Confederation for Unity and Responsible Association of Government Employees (Courage) president Ferdinand Gaite and GSIS employees' union leader Alberto Velasco, maintained that Garcia allegedly mishandled the pension fund by charging higher contributions and giving less benefits to government workers.
Gaite said the purchase of Juan Luna paintings was "illegal and immoral".
When asked by Sen. Juan Ponce Enrile about documents to support their charges against Garcia, Gaite and Velasco failed to present any.
Meanwhile, Courage members staged a rally Thursday to denounce the continued stay of Garcia in the GSIS despite mounting pleas by government employees to boot him out from his position.
The group criticized President Arroyo for keeping mum on Garcia's case.
Likewise, Gaite said they would also press for P3,000 across-the-board wage increase and other matters in relation to workers' welfare.
"The President ignores the workers' wage demands while she allegedly tolerates corruption among government officials," he said in a radio interview.
The protesters will converge at the Quezon City Memorial Circle and Andalucia Circle in Manila.
(October 28, 2004 issue)
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