The government is eyeing to raise P2.5 billion from the privatization of idle assets to finance vital development projects this year, Finance Secretary Benjamin Diokno said over the weekend.
“For the rest of 2023, the Privatization Council is targeting to privatize 137 properties with a total value of P2.5 billion,” Diokno said in a statement.
“This aggressive disposition of non-performing assets will not only clear the national government’s books of stagnant assets but will also provide additional much-needed revenue to fund priority projects in the Philippines,” Diokno said.
He said on May 31, 2023, the council approved the sale of six properties with a total value of P152.8 million.
Diokno said that within the first six months of the administration of President Ferdinand Marcos Jr., it approved the final sale of P800 million worth of assets for disposition. Julito G. Rada