Subsidies to GOCCs down 16%
Subsidies given by the national government to state-run firms in August dropped 16 percent to P7.4 billion from P8.8 billion a year ago, the latest Bureau of the Treasury data showed.
In August, non-financial government corporations received P3.3 billion, while other government corporations were granted P4.1 billion.
Power Sector Assets and Liabilities Management Corp. got the biggest amount, P3.36 billion.
The other GOCCs that were given subsidies in August were: Light Rail Transit Authority, P478 million; Lung Center of the Philippines, P34 million; National Development Co., P1.499 billion; National Irrigation Administration, P1.223 billion; National Kidney and Transplant Institute, P440 million; Philippine Center for Economic Development, P14 million; Philippine Children’s Medical Center, P2 million; Philippine Crop Insurance Corp., P182 million; Philippine Fisheries Development Authority, P24 million; Philippine Heart Center, P27 million; Philippine Institute for Development Studies, P12 million; Philippine Institute of Traditional and Alternative Health Care, P7 million; Philippine National Railways, P80 million; Small Business Corp., P7 million; Southern Philippines Development Authority , P4 million, and Zamboanga City Special Economic Zone Authority, P8 million.
