GOCC subsidies rise in February
SUBSIDIES provided to government-owned and -controlled corporations (GOCCs) rose to P12.715 billion in February, the Bureau of the Treasury said.
Budgetary support to GOCCs rose 35.3% from the P9.401 billion a year earlier.
No subsidies were provided in January.
In February, the National Irrigation Administration received the most subsidies with P7.093 billion or 55.8% of the total.
This was followed by the National Food Authority, which got P2.25 billion.
The Social Housing Finance Corp. was granted P667 million for the month.
Other top recipients in February were the Philippine Heart Center (P303 million), Sugar Regulatory Administration (P284 million), Small Business Corp. (P250 million), Philippine Children’s Medical Center (P228 million), National Kidney and Transplant Institute (P207 million), National Power Corp. (P181 million), Light Rail Transit Authority (P144 million), Philippine Rice Research Institute (P135 million), National Home Mortgage Finance Corp. (P112 million) and Philippine Coconut Authority (P100 million).
Other GOCCs that were given at least P50 million were the Lung Center of the Philippines (P94 million), Philippine Postal Corp. (P70 million), Development Academy of the Philippines (P68 million), Cultural Center of the Philippines (P60 million), and Local Water Utilities Administration (P51 million).
All GOCCs received subsidies during the month.
The government provides subsidies to GOCCs to help cover operational expenses not supported by revenue.
Last year, GOCCs were provided P163.535 billion. — Luisa Maria Jacinta C. Jocson