MANILA, Philippines– Rep. Leila de Lima urged the House of Representatives to open an inquiry into the Government Service Insurance System’s reported ₱8.8-billion loss from alleged risky investments.
De Lima raised the concern during a House session, stating that the reported loss requires accountability and transparency from GSIS officials. She asked House leaders to examine the investment decisions that led to the loss and to clarify the circumstances surrounding the transactions.
The GSIS manages insurance, pensions, and other benefits for government employees. Lawmakers noted that the investigation will assess whether the fund’s investment strategies complied with standards and whether safeguards were followed to protect public money.
De Lima stressed that public trust depends on transparency in the handling of government-managed funds. The House is expected to seek explanations from GSIS officials to prevent similar losses and ensure protection of government workers’ financial interests.
