State subsidies hit P2.96B in September

Subsidies distributed to state-run firms reached P2.96 billion in September, four-fifths more year-on-year but slightly less than the previous month’s.

Latest Bureau of the Treasury data showed that the subsidies to government-owned and -controlled corporations (GOCCs) last September was higher by 80.8 percent than the P1.64 billion released in the same month last year.

But the national government subsidies disbursed in September were lower by 3.6 percent than last August’s P3.08 billion.

Last September, the biggest state financial aid was received by National Housing Authority (NHA), which got P613 million.

National Irrigation Administration (NIA) got the second biggest subsidy worth P557 million, followed by Philippine Deposit Insurance Corp. (PDIC) with P465 million.

Other GOCCs that were granted subsidies in September included the Cultural Center of the Philippines (P63 million); Cottage Industry Technology Center (P1 million); Center for International Trade Expositions and Missions (P98 million); Lung Center of the Philippines (P53 million); National Dairy Authority (P135 million); National Electrification Administration or NEA (P69 million), and National Kidney and Transplant Institute (P20 million).

Other recipients of state financial aid at the end of the third quarter were Philippine Center for Economic Development (P5 million); Philippine Children’s Medical Center (P79 million); Philippine Health Insurance Corp. or PhilHealth (P10 million); Philippine Heart Center (P57 million); Philippine Institute for Development Studies (P32 million); Philippine Institute of Traditional and Alternative Health Care (P1 million); Philippine National Railways (P19 million), and Philippine Rice Research Institute (P273 million).

Rounding up the list were People’s Television Network Inc. (P22 million); Social Housing Finance Corp. (P202 million); Social Security System (P178 million), and Zamboanga City Special Economic Zone Authority (P13 million).

As of end-September, subsidies to GOCCs totaled P62.21 billion, three-fourths more than the P35.4 billion registered during the first nine months of 2013.

During the January-to-September period, the top recipients of government subsidies were PhilHealth (P35.31 billion); NHA (P9.01 billion); National Food Authority (P4.25 billion); NEA (P3.57 billion); PDIC (P2.79 billion), and Philippine Coconut Authority (P1.35 billion).