GOCC subsidies rise 70.8% in March led by irrigation agency

SUBSIDIES extended to government-owned and -controlled corporations (GOCCs) grew 70.8% year on year in March, the Bureau of the Treasury (BTr) reported.

The BTr said budgetary support to state-run firms was P18.15 billion in March, against P10.63 billion a year earlier.

Month on month, GOCC subsidies rose 240.3% from February.

State-owned firms receive monthly subsidies from the National Government to support their daily operations if their revenue is insufficient.

In March, the National Irrigation Administration (NIA) received P4.06 billion, accounting for 22.37% of the total.

This was the second month the NIA was the top subsidy recipient, after the P2.45 billion granted in February.

The National Electrification Administration (NEA) received P3.02 billion, followed by the Power Sector Assets and Liabilities Management Corp. with P2.5 billion and the Bases Conversion and Development Authority with P2.08 billion.

The Philippine Fisheries Development Authority  received P1.76 billion, while the National Food Authority (NFA) got P1.26 billion.

In March, three agencies received subsidies 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: the National Power Corp. (P297 million), the Sugar Regulatory Administration (P283 million), the Tourism Infrastructure and Enterprise Zone Authority (P248 million), and the Philippine Heart Center (P202 million).

GOCCs that received at least P100 million in subsidies included 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 subsidies 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 subsidies included 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), and the People’s Television Network, Inc. (P11 million).

Meanwhile, the Aurora Pacific Economic Zone and Freeport Authority received P10 million, followed by the Philippine Center for Economic Development (P9 million), the Intercontinental Broadcasting Corp. (P8 million), the Southern Philippines Development Authority (P7 million), the Philippine Tourism Authority (P5 million), and the Zamboanga City Special Economic Zone Authority (P4 million).

Receiving no subsidies in March were the Small Business Corp. and Philippine Postal Corp.

In the first three months of the year, GOCC subsidies rose 18.83% year on year to P26.84 billion.

The NIA was the top recipient during the quarter with P6.93 billion in subsidies, followed by the NFA with P3.87 billion and NEA with P3.02 billion. — Justine Irish D. Tabile