COA questions why PITX project cost nearly doubled —from P2.5B to P4.7B

COA questions why PITX project cost nearly doubled —from P2.5B to P4.7B

MANILA, Philippines – The Commission on Audit questioned why the Parañaque Integrated Terminal Exchange (PITX) construction swelled to nearly twice the original cost approved by the National Economic and Development Authority (NEDA).  A COA Performance Audit Report released on June 30 red-flagged what it described as a “cost escalation” of the PITX construction, noting that the NEDA approved cost of construction of P2.5 billion eventually ended …