37 GOCCs received P42.1B in subsidies in 2012

The government gave out P42.1 billion in subsidies to 37 state-owned and -controlled corporations and similar entities in 2012, with most of the funds going to those engaged in health, food, power, irrigation and housing projects.

Data from the Bureau of the Treasury (BTr) show that the amount was 21.5 percent lower than the P53.7 billion given out in 2011.

In December alone, subsidies for state institutions reached P16 billion or 88 percent more than the P8.5 billion for the same month of the previous year.

The increase in December spending on subsidies was observed as the government posted yet another monthly spending record at P242.1 billion, according to data from the Department of Budget and Management.

The top recipient of subsidies in 2012 was the Philippine Health Insurance Corp. with P14.1 billion or one-third of the total for the year.

PhilHealth data show that it covered the health insurance needs of 9.27 million indigent families in 2012 aside from its regular members.

These include those that have been identified through the National Household Targeting System for Poverty Reduction, which the Department of Social Work and Development uses in identifying beneficiaries of programs like the conditional cash transfer initiative.

Other top recipients of subsidies in 2012 were the National Food Authority (NFA) with P7.7 billion; National Electrification Administration, P4.95 billion; National Irrigation Authority (NIA), P2.8 billion; and National Housing Authority, P2.4 billion.

For December, top-recipient PhilHealth got some P11.9 billion or three-quarters of total subsidies for the month.