Marcos sees GOCC dividends breaching P100B this year

President Ferdinand Marcos Jr. delivers a speech for GOCC Day on May 6, 2024 at the Philippine International Convention Center. (Photo from his Facebook page)

MANILA, Philippines — President Ferdinand Marcos Jr. on Monday said he is confident that the government will be able to surpass the P100 billion Government-Owned and Controlled Corporation (GOCC) dividends.

During the GOCC Day ceremony in the Philippine International Convention Center in Pasay City, Marcos oversaw the turnover of P88.5 billion dividends.

READ: Marcos leads turnover of P88.5B in GOCC dividends

“Last year, dividends remitted reached an unprecedented P100 billion. I am sure that we will surpass it this year,” said Marcos in his speech.

“And if the amount remitted as of May 3, which is 88.56 billion pesos, is any indication, then, we are on track to meet that goal,” he added.

Marcos also asked GOCCs that are not mandated to remit incomes to the government to lower the taxpayer subsidy that they need.

“To the GOCCs who render essential services, the government’s commitment to fund your operational needs remain steadfast and firm. Whatever the function is, I trust that you will all be practitioners of sound corporate governance,” said Marcos.