Dividends remitted by 49 government-owned or controlled corporations (GOCCs) reached P99.2 billion this year, surpassing its target and the actual collection from last year, data from the Department of Finance (DOF) showed. This figure is 30 times bigger than the P69.12 billion of cash dividends...
The Bureau of the Treasury announced that the national government is set to borrow P585 billion from the domestic market in the first three months of next year to cover its budget shortfall. Based on the Treasury’s quarterly local borrowing plan, the Marcos administration plans to issue P195...
The proposed new Government Procurement Reform Act (GPRA) will allow bidders to submit only the certificate of registration and membership, which will smoothen the procurement process and ensure its legality, the Department of Budget and Management (DBM) said. In a statement, Budget Secretary...
The Government Service Insurance System (GSIS) said that the relatives of deceased pensioners who had availed of the Choice of Loan Amortization Schedule for Pensioners (CLASP) are not obliged to settle the remaining loan balance. In a virtual briefing on Tuesday, Dec. 19, Wick Veloso, GSIS...
State-run Government Service Insurance System (GSIS) has invested in renewable energy firm Alternergy Holdings Corp. to speed up the development of wind power projects in Rizal and Quezon. In a disclosure to the Philippine Stock Exchange on Tuesday, Dec. 19, Alternergy stated that the pension fund...
The Department of Finance (DOF) said the national government's borrowing from local and foreign investors through the sale of debt papers demonstrated investor confidence in the Marcos administration. In a statement on Monday, Dec. 18, the DOF boasted President Marcos' multi-billion peso domestic...
State-run Philippine National Oil Company (PNOC) is engaging into a new business niche by positioning as retail electricity supplier (RES), primarily to satiate the power supply requirements of the government agencies nationwide. In an interview, PNOC President and CEO Oliver B. Butalid indicated...
The Government Service Insurance System (GSIS) said it will offer fire insurance coverage for public school buildings under the Department of Education (DepEd) nationwide. Wick Veloso, GSIS president and general manager, said the pension fund will extend coverage to over 132,000...
(Unsplash) Local government units (LGUs) won't be left out in the cold as far as the proposed P5.768-trillion 2024 national budget. House Speaker Martin Romualdez made this assurance even as next year's budget, as embodied in the...
Senator Sherwin Gatchalian underscored the importance of local government units' (LGUs) role in addressing issues related to food inflation. In particular, the senator zeroed in on the adherence to Executive Order (EO) 41. According to Gatchalian, the said EO, signed by President Marcos...
President Marcos has assured those who may be affected by the impending El Niño phenomenon that the government is ready to assist them to weather the effects of the dry spell. President Ferdinand ‘Bongbong’ Marcos Jr. (Argyll Geducos) Marcos said this in an interview with reporters in Nueva...
The Department of Finance (DOF) is calling on local government units (LGUs) to update their real property taxation (RPT) to alleviate financial challenges that hinder their capacity to deliver optimal services to their constituents. In a statement on Wednesday, Dec. 13, Finance Secretary Benjamin...
