Lacson: Ex-PS-DBM OIC Lao Violated Anti-Graft Law with Huge Pharmally Contracts October 28, 2021 - Lloyd Christopher Lao, ex-OIC of the Department of Budget and Management Procurement Service (PS-DBM), violated the Anti-Graft Law by giving Pharmally Pharmaceuticals Corp. huge contracts way beyond its Net Financial Contracting Capacity (NFCC), Sen. Panfilo M. Lacson bared Thursday. At the Senate Blue Ribbon hearing on irregularities involving the procurement of medical supplies to deal with the Covid pandemic, Lacson said Pharmally had a net working capital of P599,450 and could only be given a maximum contract of P5.994 million. Yet, Pharmally bagged its first contract amounting to P13.86 million - more than twice the maximum - and even got a second contract amounting to P54 million, all within the same year, Lacson said, citing documents so far obtained during the hearing. "Bakit una pa lang na delivery, nasa P13 milyon agad mahigit? May violation agad dito (Why is it tha...