THE SALE of state assets raised over half a billion pesos in the nine months to September, led by share disposals, the Department of Finance (DoF) said in a statement.
The Privatization and Management Office (PMO) remitted to the Bureau of the Treasury (BTr) P554.442 million in the first nine months, up 36.28% from a year earlier.
However, the DoF said that the proceeds exclude P22.8 million which the PMO was authorized to retain.
The DoF said that the PMO in its latest payment turned over to the BTr a check on Oct. 19, 2017 for P289.49 million.
“This is the biggest amount remitted by PMO so far from January-September 2017 collection, which came from the sale of shares in Asean Finance Corp. and a special cash dividend from Semirara Mining Corp.,” the statement read.
“PMO remittances for the January-September 2017 period also came from the proceeds of lease, CARP-covered landholdings, interest income and other disposals,” it added, referring to the Comprehensive Agrarian Reform Program.
“Total PMO remittances to the government reached P286.4 million in July-December 2016 period, or the first six months of the Duterte administration,” the DoF said.
The Privatization Council under PMO is responsible for formulating policies and general guidelines on privatization issues, identifying disposable assets, monitoring the progress of privatization activities and approving the sale or divestment of assets with respect to price and buyer.
According to Executive Order No. 323, all receipts from the sale of assets shall be remitted to the National Treasury, with 60% apportioned to the special account of the Agrarian Reform Fund and 40% to the general fund. — Elijah Joseph C. Tubayan
