SUBSIDIES provided to government-owned and -controlled corporations (GOCCs) dropped by more than 40% year on year in February, according to the Bureau of the Treasury (BTr).
The BTr reported that budgetary support to GOCCs declined 40.43% to P7.57 billion in February.
Month on month, GOCC subsidies rose 72.73% from P4.39 billion in January.
State-owned firms receive monthly subsidies from the National Government to support their daily operations if their revenue is insufficient.
In February, the National Irrigation Administration received P3.16 billion in subsidies, which accounted for 41.66% of the total.
This was followed by the Bases Conversion Development Authority, which received P1.94 billion, and the Philippine Fisheries Development Authority with P975 million.
Also receiving subsidies were the National Kidney Transplant Institute (P316 million), Sugar Regulatory Administration (P231 million), Philippine Heart Center (P184 million), the Intercontinental Broadcasting Corp. (P127 million) and the Philippine Children’s Medical Center (P116 million).
Receiving less than P100 million were the Light Rail Transit Administration (P74 million), Small Business Corp. (P63 million), Philippine Coconut Authority (P60 million), and the Lung Center of the Philippines (P59 million);
The Philippine Rubber Research Institute (P44 million), the National Dairy Authority (P42 million), the Cultural Center of the Philippines (P34 million), the Development Academy of the Philippines (P30 million), the Philippine Institute for Development Studies (P24 million), and the Center for International Trade Expositions and Missions (P20 million).
Those receiving P20 million or less were the People’s Television Network, Inc. (P18 million), the Philippine Institute of Traditional and Alternative Health Care (P17 million), the Metropolitan Waterworks and Sewerage System (P14 million), the Aurora Pacific Economic Zone and Freeport Authority (P11 million), and the Southern Philippines Development Authority (P7 million).
The Philippine Center for Economic Development and the Philippine Tax Academy received P5 million each, while the Zamboanga City Special Economic Zone Authority was given P4 million.
In February, no subsidies were provided to the National Food Authority. — Aubrey Rose A. Inosante