Irrigation agency gets bulk of GOCC subsidies as of end-February
The National Irrigation Administration cornered nearly half of the national government’s subsidies during the first two months even as these financial support to state-run corporations declined to P10.048 billion.
The total subsidies given away to government-owned and/or controlled corporations (GOCCs) from January to February went down 12 percent from P11.259 billion in the same period last year, the latest Bureau of the Treasury data showed.
As of February, major non-financial government corporations received P6.63 billion in subsidies, while other government corporations got P3.41 billion.
In the first two months, subsidies granted to the NIA reached P4.89 billion or 49 percent of the total.
The NIA’s end-February subsidies nonetheless dropped from P9.702 billion a year ago.
The GOCC mainly responsible for irrigation development and management, the NIA received the second biggest amount of subsidies worth P30.2 billion last year to fund President Duterte’s campaign promise of free irrigation for farmers.
Also among the top recipients of government subsidies during the first two months were the National Development Co. (P1.49 billion) as well as the Power Sector Assets and Liabilities Management Corp. (P1.48 billion).
Up to 90 percent of the subsidies that state corporations received were spent on programs and projects, while the remainder covered operational expenses, the Governance Commission for GOCCs had said.
The national government also provides budgetary support to GOCCs through equity and net lending./lb
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