GOCC subsidies surge in June, led by NFA, PhilHealth
THE national government released P69.161 billion worth of subsidies to government-owned and -controlled corporations (GOCCs) in June, with 83% going to the National Food Authority (NFA) and Philippine Health Insurance Corp. (PhilHealth).
According to the Bureau of the Treasury, June subsidies rose 882.4% year on year and were up 132.1% compared to May levels.
Some 45% or P31.25 billion went to the National Food Authority, up 1,394% higher than the P2.091 billion it had in the same month last year.
PhilHealth received P26.173 billion, which accounts for 37.8% of the total. It did not receive a subsidy in June 2019.
Other GOCCs that received budget support last month were the National Housing Authority with P7.46 billion, the National Irrigation Administration P2.45 billion, and the Small Business Corp. P500 million.
Other GOCCs that received at least P100 million were the Bases Conversion Development Authority, the Subic Bay Metropolitan Authority, and the Philippine Heart Center.
Not receiving financial support during the month were the Social Security System, the Philippine Tobacco Administration, the Philippine Fisheries Development Authority, Intercontinental Broadcasting Corporation (IBC-13), the Credit Information Corp., the National Power Corp., the National Electrification Administration and the Local Water Utilities Administration.
In the six months to June, the government released P169.53 billion worth of subsidies to GOCCs.
The GOCC subsidy budget this year was trimmed by P5.1 billion to P191 billion after the government realigned funds to support the pandemic containment effort.
The government subsidizes GOCCs to cover operational expenses not supported by their revenue. — Beatrice M. Laforga
