NIA corners bulk of Feb GOCC subsidies

The National Irrigation Administration cornered nearly half of the government’s subsidies during the first two months even as the total financial support to state-run corporations declined to P10.048 billion during the period.

The total subsidies extended 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
nonfinancial government corporations received P6.63 billion in subsidies, while other state corporations got P3.42 billion.

In the first two months, subsidies granted to the NIA reached P4.898 billion or 49 percent of the total.

However, the amount was lower than the P9.7 billion it received a year ago.

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.

The other major recipients of subsidies in the first two months were National Development Co. (P1.49 billion) and Power Sector Assets and Liabilities Management Corp. (P1.48 billion).

Up to 90 percent of the subsidy that state corporations are receiving are being spent on programs and projects, while the remainder covers operational expenses, according to the Governance Commission for GOCCs.
The government also provides budgetary support forGOCCs through equity and net lending.—BEN O. DE VERA

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