National gov’t provides PHP7.3B subsidies to GOCCs

MANILA – The national government’s subsidies for government-owned and controlled corporations (GOCCs) amounted to PHP7.38 billion in May.

Data from the Bureau of the Treasury (BTr) showed the amount was slightly lower than the PHP7.9 billion in the same month last year.

The National Irrigation Administration (NIA) was the biggest recipient of budgetary support anew, amounting to PHP4.22 billion.

The National Food Authority received PHP849 million, second on the list, while the National Housing Authority came in third with subsidies amounting to PHP363 million.

BTr data showed that GOCCs which received more than PHP100 million of subsidies include Philippine Fisheries Development Authority (PHP319 million), Philippine Heart Center (PHP 271 million), Philippine Rice Research Institute (PHP239 million), Philippine Children’s Medical Center (PHP173 million), and National Kidney and Transplant Institute (PHP125 million).

For the first five months of the year, the national government’s subsidies to GOCCs have already amounted to PHP37.6 billion.

NIA received the biggest subsidy which amounted to PHP18.28 billion, followed by the Power Sector Assets and Liabilities Management Corp. with PHP5 billion.

In April, budgetary support for GOCCs grew to PHP8.9 billion from PHP5.1 billion in the same month last year but lower than the PHP10.79 billion in March. (PNA)