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GOCC subsidies surge in August

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SUBSIDIES extended to government-owned and -controlled corporations (GOCCs) rose sharply in August led by the Philippine Health Insurance Corp. (PhilHealth).

The Bureau of the Treasury (BTr) reported that subsidies provided to GOCCs amounted to P31.808 billion in August, well above the P5.037 billion issued a year earlier.

PhilHealth received 87.07% of the total, or P27.695 billion, in August, well above the P2 billion granted a year earlier.

The Philippine Crop Insurance Corp. received P1.952 billion, or 6.13% of the total, and the National Electrification Administration received P571 million in August.

In the eight months to August, subsidies totaled P96.794 billion.

Other GOCCs that received subsidies were the National Irrigation Administration (P456 million), Development Academy of the Philippines (P251 million) and Philippine National Railways (P200 million).




The government also granted subsidies to National Food Authority and Philippine Heart Center during the month worth P133 million and P106 million, respectively.

Meanwhile, 12 GOCCs did not receive any state assistance during the month. These were the National Home Mortgage Finance Corp., Land Bank of the Philippines, National Housing Authority, National Power Corp., Bases Conversion Development Authority, Credit Information Corp., Philippine Center for Economic Development, Philippine Fisheries Development Authority, Small Business Corp., Social Housing Finance Corp., Sugar Regulatory Administration and Tourism Infrastructure and Enterprise Zone Authority.

The national government budgeted P187.1 billion worth of subsidies for GOCCs this year. — Beatrice M. Laforga

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