The Market Monitor Minding the Nation's Business
The Economy and Development (ED) Council Investment Coordination Committee – Cabinet Committee (ICC-CC), chaired by Finance Secretary Ralph Recto, has approved a resolution to aggregate flood control and management projects within a single river basin.
The Department of Finance (DOF) said Wednesday that the resolution, adopted on Aug. 12 upon the recommendation of the Infrastructure Development Committee Sub-Committee on Water Resources, will allow a comprehensive review of such projects and ensure their readiness before implementation.
Currently, only projects worth more than ₱2.5 billion are subject to ICC evaluation. Most flood control projects, treated individually, fell below the threshold and bypassed review, resulting in fragmented initiatives that often ignored impacts on adjacent communities.
The new measure will subject more projects to ICC scrutiny for technical, environmental, social, and economic viability. It will also promote a unified strategy to ensure quality, sustainability, and long-term effectiveness.
Under the resolution, the Department of Public Works and Highways (DPWH) will serve as the lead proponent agency for submitting aggregated projects to the ICC. The measure will now be elevated to the ED Council for final approval.
“We will make sure that the hard-earned money of our countrymen is truly put to good use. We will not let the people’s money be wasted on failed or ill-considered projects,” Recto said.