Manila: Senator Sherwin Gatchalian on Wednesday expressed his full support for the Department of Finance's (DOF) initiative to conduct a parallel investigation into the Government Service Insurance System's (GSIS) stock market investments. This move comes amid a leadership transition in the agency following the suspension of several officials by the Office of the Ombudsman.

According to Philippines News Agency, Gatchalian emphasized the importance of accountability and transparency within public institutions, particularly those managing government workers' funds. He highlighted the necessity of safeguarding the contributions of government workers, noting that any mismanagement could undermine public trust in state-run institutions.

The senator reassured GSIS members of the government's commitment to maintaining high standards of prudence, transparency, and accountability in fund management. He stressed the critical nature of protecting the interests of GSIS members, as their contributions are hard-earned and intended for their future and their families.

In response to the situation, the GSIS Board of Trustees has assured the public that services will continue uninterrupted, despite the preventive suspension of several officials by the Ombudsman. To maintain operational stability, the Board appointed Executive Vice President for Support Services Juliet Bautista as the officer-in-charge during a special meeting.