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Friday, May 22, 2015

GOCCs hand over P36-B to PNoy

By Claro A. Lanipa

PAGADIAN CITY – Government-Owned and-Controlled Corporations (GOCCs) handed over P36.86 billion worth of checks to President Benigno Aquino III during the annual ceremonial turnover of dividends.

President Aquino congratulated the GOCCs, saying, “we really should applaud each one of you who helped in the reforms, which shows what could have happened if we started earlier.”

Forty eight (48) GOCCs participated in the annual ceremony held on Wednesday, May 20, 2015 at Rizal Hall in Malacanang.

The Government Commission on GOCCs (GCG) said “GOCC Day” is being celebrated yearly in recognition of “GOCCs achievements and their significant contributions to the country’s national development.”

Last year’s remittances were up by more than P4.5 billion, from P32.31 billion in 2013.

A total of P131.28 billion have been remitted by GOCCs from 2010 to 2015 under the Aquino’s administration.

Meanwhile, P84.18 billion remittances were collected from 2001-2009 under the former President Gloria Macapagal-Arroyo.

Of the GOCCs, the Land Bank of the Philippines had the highest dividends at P6.254 billion. The Philippine Amusement and Gaming Corporation (PagCor), on the other hand, posted the largest amount of remittances including dividends at P10.137 billion.

Included in the so-called Billionaires’ Club are the Bases and Conversion Development Authority (BCDA) with P3.201 billion in remittances; Development Bank of the Philippines (DBP) P3.135 billion; Food Terminal Inc.- P2.305 billion; Philippine Deposit Insurance Corporation (PDIC) –P2.1 billion.

Philippine Ports Authority (PPA) remitted P1.817 billion; Philippine National Oil Company (PNOC) – P1.525 billion; Manila International Airport Authority (MIAA) – P1.339 billion; and the Philippine Reclamation Authority –P1.2 billion.

Under Republic Act No. 7656, GOCCs are required to remit at least 50 percent of their income as dividends to the national government. Other remittances include proceeds of sale of assets and income from various fees.