SUBSIDIES to state-owned firms rose 347% year on year in March, with the National Electrification Administration (NEA) and Light Rail Transit Administration (LRTA) receiving the largest amounts.
According to the Bureau of the Treasury (BTr), the national government extended P25.667 billion worth of budgetary support to government-owned and -controlled corporations (GOCCs) that month, against P10.487 billion in February and P5.74 billion recorded in March 2019.
Some 83% went to NEA and LRTA. NEA received P11.015 billion while LRTA took in P10.416 billion, against P5 million a year earlier. NEA did not receive a subsidy in March 2019.
The National Irrigation Administration received P2.945 billion, down 18% year on year.
Also receiving subsidies were the Philippine Fisheries Development Authority (P342 million), the National Housing Authority (P288 million), the Small Business Corp. (P145 million) and the Philippine Heart Center (P118 million).
In the March quarter, the national government extended a total of P36.154 billion worth of subsidies to GOCCs.
The government subsidizes GOCCs to cover operational expenses not supported by their revenue. — Beatrice M. Laforga
