Subsidies to GOCCs jumped 515% in April
SUBSIDIES to state-run corporations in April jumped 515 percent to P4.82 billion from only P785 million a year, with the National Irrigation Authority (NIA) getting the lion’s share of national government support.
The latest Bureau of the Treasury data showed that NIA received P4.09 billion or 85 percent of the total amount given away to government-owned and -controlled corporations (GOCCs) at the start of the second quarter. Created in 1963, NIA is the agency responsible for irrigation development and management, its website said.
The other recipients of subsidies last April were Aurora Pacific Economic Zone and Freeport Authority (P30 million), Intercontinental Broadcasting Corp. (P64 million), National Power Corp. (P212 million), Philippine Children’s Medical Center (P20 million), Philippine Fisheries Development Authority (P16 million), Philippine Heart Center (P14 million), Philippine National Railways (P54 million), Philippine Postal Corp. (P301 million), People’s Television Network Inc. (P10 million), Southern Philippines Development Authority (P4 million) and Zamboanga City Special Economic Zone (P11 million).
At the end of the first four months, NIA also had the biggest share of subsidies, receiving a total of P6.15 billion or almost half of the end-April subsidies amounting P13.07 billion.
The GOCC subsidies distributed from January to April was also 192-percent higher than the P4.48 billion given away during the first four months of last year.
The Governance Commission for GOCCs had said that up to 90 percent of the subsidies that GOCCs get were being spent on projects and programs while the remainder covered operational expenses.
Article continues after this advertisementThis year, GOCC subsidies were programmed to reach P96.1 billion. Poised to receive the biggest amounts of subsidies in 2016 are NIA with P32.7 billion and the National Housing Authority with P30.5 billion.
Last year, subsidies granted to GOCCs slid 3 percent to P78 billion from 2014’s P80.4 billion, which was the highest annual amount to date. Ben O. de Vera
