COMPARED to a year ago, the national government extended lesser subsidies of P19.587 billion to corporations it owns and runs in the first quarter of 2024.
Latest data from the Bureau of the Treasury showed subsidies extended to government-owned and -controlled corporations went down from January to March this year by 8.08 percent, or P1.721 billion, from the P21.308 billion recorded in the same period in 2023.
Of the total subsidies extended, the National Irrigation Administration , National Food Authority , and National Electrification Administration received the largest share as the government counters the impact of El Niño on energy and food security. Meanwhile, the smallest subsidies went to the Philippine Center for Economic Development and the Philippine Tax Academy , or P7 million each, and the Bangko Sentral ng Pilipinas with P10 million.
Meanwhile, health insurer Philippine Health Insurance Corp. has not received any subsidy from the government yet. PhilHealth is set to receive P61.514 billion in subsidies this year, according to the 2024 General Appropriations Act .
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Marcos ensures remitted GOCC dividends to be used to improve Pinoys' livesPresident Ferdinand ''Bongbong'' Marcos Jr. on Monday ensured that the dividends remitted by the government-owned or -controlled corporations (GOCCs) to the national government will be utilized to improve the lives of Filipinos.
Read more »
Higher GOCC remittances to help reduce debtHigher remittances from government-owned or controlled corporations will help cut the country’s borrowings and avoid the imposition of higher taxes, President Marcos said yesterday.
Read more »
GOCC remittance jumped 11 times to P88.6b as of May 6, says RectoDefining the News
Read more »
GOCC dividends surge to P88.6BDIVIDEND remittances from state-owned firms have ballooned to almost P89 billion just a little over four months into 2024, Finance Secretary Ralph Recto said on Monday.
Read more »
GOCC subsidies down 36% in MarchSUBSIDIES to government-owned and -controlled corporations (GOCCs) dropped in March from a year earlier, data from the Bureau of the Treasury showed.
Read more »
Luzon grid faces power outages as 19 plants shut offDefining the News
Read more »