By Alexandria Dennise San Juan
The Department of Transportation (DOTr), through its three agencies, has remitted in advance over P10 billion in dividends to the national treasury to support the government’s spending measures in containing the COVID-19 pandemic.
The total dividends came from the 2019 earnings of the Philippine Ports Authority (PPA) remitting in advance over P4 billion and the Civil Aviation Authority of the Philippines (CAAP) and the Manila International Airport Authority (MIAA) contributing P3 billion each.
All government-owned and controlled corporations (GOCCs) are required to remit in full their respective minimum dividends to the National Treasury on or before May 15 of each year.
Transportation Secretary Arthur Tugade lauded the efforts of the three agencies “in keeping their good financial performance for the past four years.”
“This only goes to show that with good leadership it is the people that will ultimately benefit. These remittances are the people’s money and we are giving it back at the soonest possible time when urgently needed,” Tugade said.
“Napapanahon at nararapat lamang na pakinabangan ito ng mga taumbayan lalo sa panahon ng pagsubok na ito (It is timely and appropriate for the people to benefit from this especially during these trying times),” he added.
The three DOTr agencies were listed among the GOCCs with the highest amount of dividends remitted to the National Treasury in 2017. Since 2016, the three agencies have remitted a total of P41.6 billion.
PPA revenues come mainly from port operations, while those of CAAP and MIAA are from aeronautical charges like overfly, takeoff and landing fees, concessions and licenses.