GOCC subsidies up 75% in April

SUBSIDIES PROVIDED to government-owned and -controlled corporations (GOCCs) surged in April, data from the Bureau of the Treasury (BTr) showed.

Budgetary support to GOCCs jumped by 75% to P8.958 billion in April from P5.117 billion in the same month a year ago.

Month on month, subsidies declined by 17% from P10.795 billion in March.

The government provides subsidies to GOCCs to help cover their operational expenses.

The National Irrigation Administration (NIA) was the top recipient of subsidies in April, with P3.878 billion or almost half (43.29%) of the total for the month.

This was followed by the National Food Authority (NFA), which received P2.017 billion during the month.

The National Housing Authority (NHA) was granted P836 million in April after not receiving any subsidies the previous month.

Other top recipients in April were the Sugar Regulatory Administration (P429 million), the Philippine Rice Research Institute (P321 million), the Philippine Children’s Medical Center (P266 million), the Philippine Heart Center (P178 million), Philippine Crop Insurance Corp. (P134 million), Philippine National Railways (P132 million), the National Kidney and Transplant Institute (P125 million), and the Lung Center of the Philippines (P121 million).

GOCCs that were given at least P50 million were the National Dairy Authority (P98 million), the Cultural Center of the Philippines (P80 million), and the Development Academy of the Philippines (P61 million).

Philippine Postal Corp., Power Sector Assets and Liabilities Management Corp (PSALM)., Small Business Corp., and the Subic Bay Metropolitan Authority did not receive any subsidies in April.

In the first four months, subsidies amounted to P30.266 billion, down by 3.6% from the P31.391 billion in the same period a year ago.

In the January-to-April period, the NIA received P14.062 billion to lead all GOCCs. This was followed by PSALM with P5 billion and the NFA with P3.252 billion.

Last year, GOCC subsidies rose by 8.5% to P200.41 billion from P184.767 billion in 2021. — Luisa Maria Jacinta C. Jocson