MANILA, Philippines - The military says it saved more than P765 million in its procurement activities this year, more than double the savings recorded in 2014.
In a statement, Armed Forces of the Philippines (AFP) Procurement Service chief Brig. Gen. Alvin Francis Javier said the bids and awards committees of military units registered P765,745,422.06 worth of savings from January to November.
He said the amount was more than double the P354.35-million savings posted last year.
The military recorded savings because the winning bids for its projects were lower than the approved budget for contracts.
Javier said the savings or residuals were equivalent to eight percent of the total approved budget for the contracts accepted this year.
“The residuals were derived from a total of 31,469 purchase orders or work orders and contracts processed and facilitated by the AFP Procurement Service and AFP Bids and Awards committees,” he said.
The total budget for the military projects this year was about P9.88 billion.
The Philippine Air Force Bids and Awards Committee recorded the highest savings with P326.66 million.
The Philippine Army Procurement Center, meanwhile, came in second with P139.33 million.
(PhilStar)
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