GOCC funding increased by 70.8% in March led by the irrigation agency
MONEY granted to government-owned and controlled corporations (GOCCs) grew by 70.8% year-on-year in March, the Bureau of the Treasury (BTr) reported.
BTr said budget support for public sector companies was P18.15 billion in March, compared to P10.63 billion last year.
Month-on-month, GOCC funding increased by 240.3% since February.
State-owned firms receive a monthly subsidy from the National Government to support their day-to-day operations if their income is insufficient.
In the month of March, the National Irrigation Administration (NIA) received P4.06 billion, which is 22.37% of the total.
This was the second month the NIA took the lead in receiving funding, after the P2.45 billion given in February.
The National Electrification Administration (NEA) received P3.02 billion, followed by the Power Sector Assets and Liabilities Management Corp. for P2.5 billion and the Bases Conversion and Development Authority for P2.08 billion.
Philippine Fisheries Development Authority received P1.76 billion, while the National Food Authority (NFA) received P1.26 billion.
In March, three agencies received funding between P300 million and P1 billion: the Philippine Rice Research Institute (P761 million), the Philippine National Railways (P324 million), and the Philippine Crop Insurance Corp. (P309 million).
Four agencies received at least P200 million: National Power Corp. (P297 million), Sugar Regulatory Administration (P283 million), Tourism Infrastructure and Enterprise Zone Authority (P248 million), and the Philippine Heart Center (P202 million).
GOCCs that received at least P100 million in funding include the Philippine Coconut Authority (P155 million), the Development Academy of the Philippines (P134 million), the Philippine Children’s Medical Center (P128 million), and the National Kidney and Transplant Institute (P126 million).
Four agencies received grants of at least P50 million – the Subic Bay Metropolitan Authority (P89 million), the Lung Center of the Philippines (P77 million), the Light Rail Transit Authority (P68 million), and the Center for International Trade Expositions and Missions (P59 million).
Agencies that received at least P11 million in funding include the National Dairy Authority (P44 million), the Philippine Institute for Development Studies (P41 million), the Cultural Center of the Philippines (P34 million), the Metropolitan Waterworks and Sewerage System (P17 million), the Philippine Institute for Traditional and Alternative Health Care (P12 million), Inc1 Television, and Inc.
Meanwhile, the Aurora Pacific The Economic Zone and Freeport Authority received P10 million, followed by the Philippine Center for Economic Development (P9 million), Intercontinental Broadcasting Corp. (P8 million), Southern Philippines Development Authority (P7 million), Philippine Tourism Authority (P5 million), and Zamboanga City Special Economic Zone Authority (P4 million).
They did not receive funding in March from the Small Business Corporation and the Philippine Postal Corp.
In the first three months of the year, GOCC funding increased by 18.83% year-on-year to P26.84 billion.
NIA was the top recipient during the quarter with P6.93 billion in funding, followed by NFA with P3.87 billion and NEA with P3.02 billion. – Justine Irish D. Tabile
