9 months Privatization remittance tops target Manilatimes |Biz
The Finance department’s privatization arm more than doubled remittances to the Bureau of the Treasury last year. In a statement on Wednesday, the department said the Privatization Management Office’s (PMO) P1.802-billion remittance for 2018 was 215 percent more compared to the previous year. It was also the highest since 2014 when P412.67 million was remitted. The PMO collected a total of P1.957 billion last year, 235 percent more than 2017’s P584.76 million. It also surpassed the programmed P732 million by 167 percent. “Of its 2018 total collections, P154.92 million was retained by the PMO to serve as its revolving fund for ... more