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PMO remits P554-M to gov’t from Jan. to Sept. asset sales

By: - Reporter / @daxinq
/ 05:16 PM November 27, 2017

The Privatization and Management Office generated a total of P554.4 million from the sale of government properties along with cash dividends and other forms of revenue for the first nine months of 2017, the Department of Finance said on Monday.

In a press statement, the finance department quoted a report prepared by acting chief privatization officer Gerard Chan to Finance Secretary Carlos Dominguez III detailing the PMO’s total remittances to the Bureau of the Treasury as of Sept. 30, 2017, excluding P2.8 million in authorized retentions.

Last month, the PMO turned over to the treasury bureau a cheque for P289.4 million, marking the biggest amount remitted by PMO to date for the January-September 2017 collection period. The amount represents proceeds from the sale of shares in Asean Finance Corporation and a special cash dividend from Semirara Mining Corp.

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PMO remittances for this period also included proceeds of lease, landholdings covered by the Comprehensive Agrarian Reform Program, interest income and other asset sales.

In the first six months of the Duterte administration, total PMO remittances to the government reached P286.4 million. /je

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TAGS: asset sales, Finance Department, PMO, Privatization and Management Office, Remittance, revenue
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