The Philippines is consolidating state-run corporations in hopes they would attract and retain top talent by being competitive with private-sector salaries. The Organization for Economic Cooperation and Development (OECD) group of rich nations noted in a Dec. 11 report that the Philippine...
Finance Secretary Ralph G. Recto said the government’s non-tax revenues are projected to increase by twofold this year due to remittances from government-owned and controlled corporations (GOCCs). Speaking at the post-SONA discussion, Recto remained firm that the government is on track to hit...
The government raised its budgetary support to state-run firms by 31 percent to P9.7 billion in May, with the bulk of the subsidies intended to support the agriculture sector. Data from the Bureau of the Treasury showed subsidies to government-owned and controlled corporations (GOCCs) in May...
The national government reduced the amount of subsidy to government owned and controlled corporations (GOCCs) in March this year, based on data from the Bureau of the Treasury. Financial support extended to state-owned corporations amounted to P6.87 billion in March, down by 36 percent compared...
President Marcos has lauded the Philippine Ports Authority (PPA) for being a consistent top performer among government-owned and controlled corporations (GOCCs) as reflected in its cash dividends that were remitted to the national government in the past years. PPA General Manager Jay Daniel...
President Marcos has commended Government-Owned or -Controlled Corporations (GOCCs) for their role in the country's continued progress as he honored them for their invaluable contributions to the nation’s coffers. President Ferdinand 'Bongbong' Marcos Jr. (Noel Pabalate) Marcos said this as he...
Government subsidies to state-owned companies increased in November, with the majority of the funds being allocated to the National Irrigation Administration (NIA) and the National Food Authority (NFA). Data from the Bureau of the Treasury showed that government-owned and -controlled corporations...
The Governance Commission for Government-Owned or Controlled Corporations (GCG) said that appointive directors for state-owned companies are chosen according to their integrity, experience, education, and competence. At the 16th Meeting of the Asia Network on Corporate Governance of State-Owned...
Three state-run banks and insurance corporations received the highest ratings for corporate governance in 2022 from the Governance Commission of GOCCs (GCG). During the Government-owned and Controlled Corporations (GOCC) governance awards on Monday, Nov. 20, the Land Bank of the Philippines...
The Court of Tax Appeals (CTA) has denied the petition of the National Food Authority (NFA) which challenged the real property tax (RPT) imposed by the municipality of Shariff Aguak in Maguindanao. The NFA questioned the municipality's RPT assessment against it as it argued that it is a government...
The Social Security System (SSS), Philippine Health Insurance Corporation (PhilHealth), and Government Service Insurance System (GSIS) are the top three government owned and controlled corporations (GOCCs) which netted the highest income in 2022. Based on the Annual Financial Report (AFR) on...
The Bases Conversion and Development Authority (BCDA) received its highest performance grade from the Governance Commission for Government-Owned or Controlled Corporations (GCG). In 2022, GCG awarded the BCDA with an overall rating of 96.80 percent, beating its scores from the past seven years. In...
