IBC-13 gets zero budget anew as retired employees wait benefits for over a decade

MANILA, Philippines — Bogged down by financial instability, state-owned Intercontinental Broadcasting Corp. is again appealing for fresh funding from Congress to pay around P500 million in benefits long overdue to its retired employees.

IBC-13 received zero funding in the proposed budget for 2024 and has been a bleeding government asset for years due to financial woes and management issues.  

The Department of Budget and Management did not allocate funding for the broadcasting network for 2024 as it was up for privatization. But plans to auction it off have stalled in recent years as its market value falls short of the P1 billion required by law to be sold.

As a result, when it also received zero funding in the proposed 2023 budget last year, the broadcast network had to rely on “alms” and appeal to lawmakers for funds, IBC-13 President Jose Policarpio Jr. told the House appropriations committee on Tuesday. IBC-13 is under the budget of the Presidential Communications Office.

To avoid closure, the CEO of IBC-13 said they need around P1.245 billion to keep operations running this year.

However, the IBC exec said that nearly half of this or P500 million will go straight to paying the benefits of 137 retired workers, some of whom have been waiting for a payout for nearly two decades.

Many former IBC-13 workers have also died without receiving their benefits, Policarpio added.

RELATED: With zero budget for 2023, closure looms for IBC-13  

Rep. Marissa Magsino (OFW Party-list) expressed sympathy for IBC-13, acknowledging that it may be more difficult to market a broadcast network with outdated and limited equipment compared to those that are privately owned. 

Policarpio also lamented the large amount of compensation overdue to its retired employees, saying that after 29 management changes, the large debt it owes is “embarrassing.“

“Some even told me to bring this matter to the (Commission on Human Rights),” he said.

The House of Representatives in January approved the renewal of the legislative franchise of IBC-13 for another 25 years.