Defense Secretary Voltaire Gazmin on Tuesday announced that the defense department’s plan to procure a warship from Italy is “nearing” contract signing. The procurement aims to boost the country’s posturing in defending its territorial waters especially amid the conflict in the West Philippine Sea. Speaking to the media after defending the Department of National Defense's P120.3-billion budget at the Senate, Gazmin said the procurement plan is “ongoing,” but admits that the lack of funds are hampering the speedy modernization of the country’s armed forces. “It is in the stage of short of signing… We are looking at that very seriously....