Defense Secretary Voltaire Gazmin on Saturday, December 28, said the government expected the first of the 12 Korean FA-50 lead in fighter jets to be delivered in June 2015. Gazmin made this statement after the defense department recommended that President...
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Defense Secretary Voltaire Gazmin on Saturday, December 28, said the government expected the first of the 12 Korean FA-50 lead in fighter jets to be delivered in June 2015.
Gazmin made this statement after the defense department recommended that President Benigno Aquino III allow the payment of the 52-percent down payment for the $428 million fighter jets.
“We recommended the approval of the DP (down payment) and progress billing,” he said.
Earlier, Defense Undersecretary Fernando Manalo said state agencies were only allowed by law to pay a 15-percent down payment, with the rest to be paid upon the delivery of the goods.
Anything higher than that would require the approval of the Chief Executive, Manalo said.
The Philippine government’s orders for the jets, manufactured by the government-owned Korean Aerospace Industries Inc., were among the highlights of President Aquino’s recent state visit to South Korea.
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