SUBSIDIES extended to government-owned and -controlled corporations (GOCCs) rose 54.69% in March, according to the Bureau of the Treasury (BTr).
The BTr reported that budgetary support to GOCCs increased to P10.63 billion in March from P6.87 billion a year earlier.
Month on month, GOCC subsidies rose 40.35% from P7.57 billion in February.
State-owned firms receive monthly subsidies from the National Government to support their daily operations if their revenue is insufficient.
In March, the National Irrigation Administration (NIA) received the most subsidies at P3.79 billion, accounting for 35.69% of the total.
This was the second time NIA received subsidies this year, after the P3.16 billion granted in February.
The Philippine Crop Insurance Corp. (PCIC) received P2.25 billion, followed by the National Housing Authority with P1.35 billion.
GOCCs that were provided at least P400 million in subsidies included the National Power Corp. (P649 million), the Philippine National Railways (P583 million), the Philippine Children’s Medical Center (P433 million) and the Intercontinental Broadcasting Corp. (P400 million).
Receiving at least P100 million were the Subic Bay Metropolitan Authority (P227 million), the Philippine Heart Center (P184 million), the National Kidney and Transplant Institute (P124 million), and the Cultural Center of the Philippines (P114 million).
Receiving P74 million was the Light Rail Transit Authority. Additionally, P70 million went to the Philippine Coconut Authority, P63 million to the Small Business Corp., P59 million to the Lung Center of the Philippines, P58 million to the National Dairy Authority, P38 million to the Philippine Rice Research Institute and P30 million to the Development Academy of the Philippines.
The rest of the recipients were the Philippine Institute for Development Studies (P24 million), the Center for International Trade Expositions and Missions (P20 million), the Sugar Regulatory Administration (P19 million), the People’s Television Network, Inc. (P18 million), the Metropolitan Waterworks and Sewerage System (P14 million), the Aurora Pacific Economic Zone and Freeport Authority (P10 million), the Southern Philippines Development Authority (P7 million), the Philippine Institute of Traditional and Alternative Health Care (P8 million), the Philippine Tax Academy (P5 million), the Philippine Center for Economic Development (P5 million) and the Zamboanga City Special Economic Zone Authority (P4 million).
The National Food Authority (NFA), the Bases Conversion Development Authority, and the Philippine Fisheries Development Authority received no subsidies for the month.
In the first three months of the year, GOCC subsidies rose 15.33% year on year to P22.59 billion.
The NIA was the top recipient in the quarter with P8.03 billion in subsidies, followed by the NFA and PCIC, both with P2.25 billion. — Aubrey Rose A. Inosante
