Subsidies to GOCCs fall nearly 30% in February
SUBSIDIES provided to government-owned and -controlled corporations (GOCCs) fell 29.6% year on year in February, the Bureau of the Treasury (BTr) reported.
The BTr said budgetary support to state-run firms was P5.33 billion in February, against P7.57 billion a year earlier.
Month on month, GOCC subsidies rose 58.9%.
State-owned firms receive monthly subsidies from the National Government to support their daily operations if their revenue is insufficient.
In February, the National Irrigation Administration topped the subsidy list with P2.45 billion. It was followed by the National Food Authority, which received P1.48 billion.
The Philippine Crop Insurance Corp. received P351 million in subsidies in February.
Receiving over P100 million in subsidies were the Philippine Heart Center (P202 million), National Kidney and Transplant Institute (P126 million), Philippine Children’s Medical Center (P128 million), and Philippine Coconut Authority (P105 million).
The Lung Center of the Philippines was granted P77 million, the Light Rail Transit Authority P68 million, the Center for International Trade Expositions and Missions P59 million, and the Philippine Rubber Research Institute P57 million.
Receiving no subsidies were the Small Business Corp., National Electrification Administration, National Privacy Commission, Philippine National Railways, Bases Conversion and Development Authority, Philippine Fisheries Development Authority, and Philippine Postal Corp.
Also receiving no subsidies were the Power Sector Assets and Liabilities Management Corp., the Subic Bay Metropolitan Authority, the Sugar Regulatory Administration, and the Tourism Infrastructure and Enterprise Zone Authority.
The rest of the GOCCs received subsidies ranging from P4 million to P41 million.
In the first two months, GOCC subsidies hit P8.69 billion, down 27.3% from a year earlier. — Justine Irish D. Tabile
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