6 months GOCC subsidies down 83% in March Manilatimes |Biz
SUBSIDIES received by state-run companies from the national government dropped in March, latest data from the Bureau of the Treasury showed. Twenty-three government-owned and -controlled corporations (GOCCs) received a total of P5.740 billion in the month, a 83.7-percent decrease from P35.240 billion a year earlier. The National Irrigation Administration (NIA), which is responsible for irrigation development and management, accounted for the bulk at P3.588 billion. The National Food Authority got P1.065 billion; the Philippine National Railways (PNR), P296 million; and the National Power Corp., P273 million. Other government firms that received assistance were the Light Rail Transit Authority, Aurora Pacific ... more