The national government’s subsidies to government-owned and controlled corporations (GOCCs) went up by 74 percent in April. Data from the Bureau of the Treasury’s latest cash operations report showed that budgetary support to GOCCs grew to PHP8.9 billion in April from PHP5.1 billion in the same month last year. It reached PHP10.79 billion in March. Of the total amount, PHP3.8 billion was given to the National Irrigation Administration (NIA). NIA is primarily responsible for irrigation development and management. Second on the list of the biggest recipients is the National Food Authority (NFA) with PHP2 billion. The National Housing Authority came in third with subsidies amounting to PHP836 million. BTr records show GOCCs which received more than PHP100 million of subsidies include the Philippine Rice Research Institute (PHP429 million), Philippine Children’s Medical Center (PHP266 million), Philippine Heart Center (PHP178 million), Philippine National Railways (PHP132 million), Philippine Crop Insurance Corporation (PHP134 million), National Kidney and Transplant Institute (PHP125 million), and Lung Center of the Philippines (PHP121 million). For the first four months of the year, the national government’s subsidies to GOCCs amounted to PHP30.2 billion. NIA received the biggest subsidy which amounted to PHP14.06 billion, followed by NFA with PHP3.2 billion.
Source: Philippines News Agency