MONEY granted to government-owned and controlled corporations (GOCCs) decreased by 38.91% year-on-year in November, said the Bureau of the Treasury.
Budgetary support to state-owned firms totaled R7.47 billion in November.
Month-on-month, GOCC funding decreased by 16.23%.
State-owned firms receive a monthly subsidy from the National Government to support their day-to-day operations when income is insufficient.ficient.
In November, the National Irrigation Administration (NIA) received a grant of P5.7 billion or 76.26% of the total.
This was followed by the National Food Authority (NFA), which received P750 million, the Philippine Heart Center (P184 million), and the National Kidney and Transplant Institute (P124 million).
Other GOCCs on the funding list were Philippine Children’s Medical Center (P106 million), Tourism Promotions Board (P102 million), Light Rail Transit Authority (P74 million), Intercontinental Broadcasting Corp.-13 (P64 million), PRRI (P62 million), Lung Center of the Philippines (Philippine Conut Authority) (P59 million Conut).
GOCCs that received less than P50 million in funding were the Cultural Center of the Philippines (P34 million), the National Dairy Authority (P27 million), the Philippine Institute for Development Studies (P24 million), and the Center for International Trade Expositions and Missions (P20 million).
Another sponsor was the People’s Television Network, Inc. (P18 million), Philippine Institute of Traditional and Alternative Health Care (P16 million), Manila International Airport Authority (P14 million), Aurora Paci.fic Economic Zone and Freeport Authority (P10 million).
Government-owned firms that received less than P10 million were the Development Academy of the Philippines (P9 million), Southern Philippines Development Authority (P7 million), Philippine Tax Academy (P5 million), Philippine Center for Economic Development (P5 million), and Zamboanga City Special Economic Zone Authority (P4 million).
The GOCCs that did not receive funding were the Land Bank of the Philippines, Small Business Corp., National Electrification Administration, National Housing Authority, National Power Corp., Bases Conversion and Development Authority, Philippine National Railways, Philippine Crop Insurance Corp., Philippine Health Insurance Corp., Philippine Reclamation Authority, Subicgulatory Authority, Bay Reclamation Authority Infrastructure and Enterprise Zone Authority.
In the first 11 months, GOCC funding totaled P95.85 billion, down 25.95% from last year.
NIA had the most funding during the 11-month period with P39.73 billion, followed by NFA with P13.65 billion.
Executive Secretary and former Finance Secretary Ralph G. Recto said state-owned firms are expected to make P157 billion in remittances this year, while 53 made P116.84 billion as of September. – Aubrey Rose A. Inosante
