Pasay city: President Ferdinand R. Marcos Jr. has instructed the Department of Public Works and Highways (DPWH) to reduce construction material costs by 50 percent for infrastructure projects to ensure proper utilization of public funds. The announcement was made during his departure speech at Villamor Air Base before his flight to Kuala Lumpur, Malaysia for the 47th Association of Southeast Asian Nations (ASEAN) Summit and Related Summits.

According to Philippines News Agency, the President highlighted that the DPWH identified significant overpricing in materials such as asphalt, steel bars, and cement, with costs inflated by as much as 50 percent. Marcos emphasized that some instances of overpricing were even more severe.

To address these issues, he directed the DPWH Secretary to align material costs with market prices to secure savings of PHP30 to PHP45 billion in capital outlay spending. DPWH Secretary Vince Dizon has already outlined a plan to reduce material costs regionally to tackle overpricing and ensure value for money in public works.

The President also stated that legal action would be taken against individuals involved in fraudulent infrastructure activities, as the DPWH continues to review projects and contracts. Additionally, the Bureau of Internal Revenue will adjust its focus to hold those involved in the irregularities of flood control projects accountable, ensuring fairness in the tax system.