The national government reduced the amount of subsidy to government owned and controlled corporations (GOCCs) amid the widening budget deficit, based on data from the Bureau of the Treasury. Financial support extended to state-owned corporations amounted to P145.87 billion from January to September...
State-owned companies dividend payments were slashed by more than half in the first nine-months of the year, data from the Department of Finance (DOF) revealed. The DOF reported it collected P53.1 billion from government owned and controlled corporations (GOCCs) in January to September, lower by 60...
Despite difficulties in raising revenues amid the pandemic, the national government opted to increase the amount of subsidy it extended to state-owned corporations due to mounting health insurance claims. Data from the Bureau of the Treasury revealed that the financial support extended to...
The Department of Finance (DOF) is set to launch an online tool that aims to streamline the reporting of data pertaining to the debts and other liabilities of government-owned and -controlled corporations (GOCCs). In a report to Finance Secretary Carlos Dominguez III, Joan Castillo, DOF’s...
Senator Leila de Lima has urged the government to allow Aklanons govern Boracay island and allow its local government to spearhead reforms and rehabilitation of the famous tourist destination. De Lima said she fears the bill that seeks to create a government-owned and controlled corporation (GOCC)...
The Civil Aviation Authority of the Philippines (CAAP) has handed over P21.127 billion in remittances to the National Treasury from 2017 to 2020--a huge uptick when compared to its fiscal output in the years before the Duterte administration. CAAP Director General Jim Sydiongco (Screengrab from...
Malacañang is hopeful that the Nayong Pilipino Foundation (NPF) will not make decisions that will contradict the orders of President Duterte as it is still under his supervision. Presidential spokesperson Harry Roque (OPS / FILE PHOTO / MANILA BULLETIN) Presidential Spokesman Harry Roque made...
Increased demand for public health services as well as the government’s cash aid for workers in small businesses pushed up the Duterte administration’s monetary support to state-run companies last year. Data from the Bureau of the Treasury showed that total subsidies to government-owned...
The Department of Finance (DOF) said that three-fourths of the record cash dividends remitted by government-owned and controlled corporations (GOCCs) last year partly funded the social amelioration program (SAP). In a statement, Finance Undersecretary Antonette Tionko said that about P119.1 billion...
The private sector's takeover of water districts often results in job losses to government employees, something that worries the Local Water Utilities Administration (LWUA). LWUA Administrator Jeci Lapus said that because of the joint ventures (JV) between private companies and state-owned water...
Prime Water Infrastructure Corp., a company owned by the family of Senator Cynthia Villar, has already taken over “100 water districts and counting” nationwide, a top official from Local Water Utilities Administration (LWUA) said. LWUA Administrator Jeci Lapus said that of the more than 500...
State-run Philippine Amusement and Gaming Corp. (Pagcor) has remitted additional funds to the Bureau of the Treasury for the government’s efforts in curbing the spread of COVID-19 and providing economic relief. In a statement, Recto Baltazar Jr., Pagcor vice-president, said the gaming regulator...
