The P13.5M Question: Why a Tissue Paper Scandal is a Forex Lesson

The latest audit report from the Commission on Audit (COA) reveals an alarming instance of gross procurement mismanagement within the Social Security System (SSS). State auditors flagged the SSS for purchasing 143,424 rolls of tissue paper valued at approximately P13.5 million ($230,000 USD) in a transaction criticized for showing signs of poor planning and overstocking.