Subsidies for GOCCs hit P7.38b

THE national government’s subsidies for government-owned and controlled corporations (GOCCs) amounted to P7.38 billion in May.

Data from the Bureau of the Treasury (BTr) showed the amount was slightly lower than the P7.9 billion in the same month last year.

The National Irrigation Administration (NIA) was the biggest recipient of budgetary support anew, amounting to P4.22 billion.

The National Food Authority received P849 million, second on the list, while the National Housing Authority came in third with subsidies amounting to P363 million.

BTr data showed that GOCCs which received more t han P100 million of subsidies include Philippine Fisheries Development Authority (P319 million), Philippine Heart Center (P271 million), Philippine Rice Research Institute (P239 million), Philippine Children’s Medical Center (P173 million), and National Kidney and Transplant Institute (P125 million).

For the first five months of the year, the national government’s subsidies to GOCCs have already amounted to P37.6 billion.

NIA received the biggest subsidy which amounted to P18.28 billion, followed by the Power Sector Assets and Liabilities Management Corp. with P5 billion.

In April, budgetary support for GOCCs grew to P8.9 billion from P5.1 billion in the same month last year but lower than the P10.79 billion in March.

The Governance Commission for Government-Owned or -Controlled Corporations (GCG) meanwhile unveiled its mantra and vision for GOCCs.

“Pursuant to our mandate, the theme for this year’s celebration is to Aim G.R.E.A.T.” where “G.R.E.A.T stands for: Good governance, Rightsizing, Efficiency, Accountability, and Transparency,” said GCG Chairperson Justice

Alex L. Quiroz (ret.) during the agency’s 12th anniversary program held Friday at the Philippine International Convention Center (PICC).

Highlighting the initiatives that resonate to the needs of GCG stakeholders, the GCG administration introduced open-door policy, establishment of AntiCorruption and Integrity Program and the upgrading of the current Integrated Corporate Reporting System (ICRS).

Meanwhile, in a video message, President Ferdinand R. Marcos Jr. left the GCG officials and personnel with a challenge to “take this time to understand and appreciate once again the significance of your mandate and your office”.