spot_img
27.7 C
Philippines
Friday, March 29, 2024

State-owned corporations remitted P129.45b to Treasury as of April 27

- Advertisement -

A total of P129.45 billion has been remitted by government-owned and -controlled corporations (GOCCs) to the Bureau of the Treasury as of April 27 to augment funds for state-led efforts to contain the further spread of the coronavirus disease 2019, the Department of Finance said Tuesday.

The Corporate Affairs Group of the DoF led by Undersecretary Antonette Tionko said of the total, P91.62 billion was remitted after the effectivity of Republic Act 11469, or the Bayanihan to Heal As One Act, on March 24 and up to April 29, the largest sum ever collected from GOCCs in span of only five weeks.

Before the effectivity of the Bayanihan law, GOCCs were able to remit a total of P37.83 billion to the BTr from January 1 to March 23.

On top of the cash dividends remitted by the GOCCs as mandated under RA 7656, the remittances include the unused subsidies and payment of guarantee fees and national government advances. Cash dividends amounted to P121.75 billion.

The Bangko Sentral ng Pilipinas, which remitted P37.48 billion, topped the list of GOCCS with the highest dividend contributions, followed by Philippine Deposit Insurance Corp. with P17.9 billion, and Philippine Amusement and Gaming Corp. and Tourism Infrastructure and Enterprise Zone Authority (TIEZA) with P12 billion each.

- Advertisement -

The GOCCs under the Department of Transportation—Manila International Airport Authority, Civil Aviation Authority of the Philippines and Philippine Ports Authority—followed with their respective remittances of P6 billion each from MIAA and CAAP and P5.05 billion from PPA. Julito G. Rada

Philippine National Oil Corp. remitted P5 billion; National Power Corp., P4 billion; Philippine Reclamation Authority, P3.8 billion; Bases Conversion and Development Authority, P2.69 billion; Philippine Charity Sweepstakes Office, P2.27 billion; PNOC Exploration Corp., P2 billion; and the Philippine Economic Zone Authority, P2 billion.

Other GOCCs that remitted to the BTr include the National Electrification Administration, P1.55 billion; Metropolitan Waterworks & Sewerage System, P1.43 billion; Clark Development Corp., P1.13 billion; Light Rail Transit Authority, P1 billion and the National Irrigation Administration, P1 billion.

Philippine Sugar Corp. remitted P875 million; Sugar Regulatory Administration, P659.55 million; National Housing Authority, P513.24 million; Cebu Port Authority, P500 million; and the Mactan Cebu International Airport Authority, P500 million. Julito G. Rada

- Advertisement -

LATEST NEWS

Popular Articles