The Philippine International Trading Corp. (PITC) on Wednesday welcomed calls for hearings on allegations made by senators that it maintained idle funds on behalf of various government agencies in order to circumvent auditing and budgetary obligations.

In a statement, PITC President and Chief Executive Officer Dave Almarinez said there was no basis to accuse his firm as unworthy to be the government’s procurement arm in the acquisition of coronavirus disease 2019 (Covid-19) vaccines.