4 months GOCC subsidies up 36% in May Manilatimes |Biz
GOVERNMENT subsidies received by state-owned companies grew to P5.239 billion in May, latest data from the Bureau of the Treasury showed. Twenty-three government-owned and -controlled corporations (GOCCs) secured that amount, a 36.7-percent increase from P3.832 billion a year earlier. The National Irrigation Administration (NIA), which is responsible for irrigation development and management in the country, accounted for the bulk with P1.828 billion.Advertisements
The Philippine Health Insurance Corp. (PhilHealth) followed with P1.449 billion; Philippine Coconut Authority, P755 million; and Philippine Fisheries Development Authority, P252 million. Also receiving assistance in May were the National Home Mortgage Finance Corp., Light Rail ... more