Subsidies received by government-owned and -controlled corporations (GOCCs) from the national government already breached the P100 billion-mark for the first five months of the year, a five-fold increase from only P19.658 billion in the same period last year.
The national government extended P100.369 billion in subsidies as of end-May, data from the Bureau of the Treasury showed.
Of the total subsidies for the 5-month period, other government corporations got 54.66 percent share or P54.864 billion while the major non-financial government corporations received the remaining 45.34 percent or P45.505 billion.
Among the GOCCs which received subsidies during the period, state-run pension fund Social Security System (SSS) received the biggest chunk of subsidies for the period with P51 billion.
To note, the SSS was among the main implementers of the P51-billion Small Business Wage Subsidy program, a form of financial assistance to workers who were affected financially due to the temporary closure of businesses during the lockdown.
Trailing the SSS was the National Irrigation Administration (NIA) with a total amount of subsidies for the period of P15.383 billion. The third-largest recipient was the Light Rail Transit Authority, whose operations were suspended during the lockdowns with P11.146 billion. The National Electrification Administration received the fourth-largest subsidy at P11.015 billion.
Rounding up the top five GOCCs with the highest amount of subsidies for the 5-month period was the National Food Authority (NFA) with P6.4 billion in subsidies.
Those which received more than a P100 million in subsidies are the following: National Power Corp. (NPC) with P936 million; Philippine Heart Center (P590 million); Small Business Corp. (P500 million); Philippine Children’s Medical Center (P430 million); Philippine Fisheries Development Authority (P394 million); Philippine Rice Research Institute (P381 million); National Kidney Transplant Institute (P375 million); Local Water Utilities Administration or LWUA (P237 million); Lung Center of the Philippines (P225 million); Philippine Institute for Development Studies (P148 million); Cultural Center of the Philippines (P130 million); Philippine Coconut Authority (P130 million); Center for International Trade Expositions and Missions (P122 million); National Dairy Authority (P116 million); and, the People’s Television Network Inc. (P115 million).
For the month of May alone, the government disbursed P29.799 billion in subsidies, also five times as much as the P5.239 billion that the state released to GOCCs in the same month last year. Other government corporations got 87.64 percent of subsidies for the month with P26.115 billion while major non-financial government corporations received 12.36 percent or P3.684 billion.
The SSS led the list of GOCCs with the biggest amount of subsidies received for the month, with P25.5 billion followed by the NIA with P1.806 billion, NPC (P936 million), NFA (P600 million) and LWUA (P237 million).
State-run health insurer Philippine Health Insurance Corp. finally received its first share of subsidy for the year in May amounting to P1 million.
The national government extended P100.369 billion in subsidies as of end-May, data from the Bureau of the Treasury showed.
Of the total subsidies for the 5-month period, other government corporations got 54.66 percent share or P54.864 billion while the major non-financial government corporations received the remaining 45.34 percent or P45.505 billion.
Among the GOCCs which received subsidies during the period, state-run pension fund Social Security System (SSS) received the biggest chunk of subsidies for the period with P51 billion.
To note, the SSS was among the main implementers of the P51-billion Small Business Wage Subsidy program, a form of financial assistance to workers who were affected financially due to the temporary closure of businesses during the lockdown.
Trailing the SSS was the National Irrigation Administration (NIA) with a total amount of subsidies for the period of P15.383 billion. The third-largest recipient was the Light Rail Transit Authority, whose operations were suspended during the lockdowns with P11.146 billion. The National Electrification Administration received the fourth-largest subsidy at P11.015 billion.
Rounding up the top five GOCCs with the highest amount of subsidies for the 5-month period was the National Food Authority (NFA) with P6.4 billion in subsidies.
Those which received more than a P100 million in subsidies are the following: National Power Corp. (NPC) with P936 million; Philippine Heart Center (P590 million); Small Business Corp. (P500 million); Philippine Children’s Medical Center (P430 million); Philippine Fisheries Development Authority (P394 million); Philippine Rice Research Institute (P381 million); National Kidney Transplant Institute (P375 million); Local Water Utilities Administration or LWUA (P237 million); Lung Center of the Philippines (P225 million); Philippine Institute for Development Studies (P148 million); Cultural Center of the Philippines (P130 million); Philippine Coconut Authority (P130 million); Center for International Trade Expositions and Missions (P122 million); National Dairy Authority (P116 million); and, the People’s Television Network Inc. (P115 million).
For the month of May alone, the government disbursed P29.799 billion in subsidies, also five times as much as the P5.239 billion that the state released to GOCCs in the same month last year. Other government corporations got 87.64 percent of subsidies for the month with P26.115 billion while major non-financial government corporations received 12.36 percent or P3.684 billion.
The SSS led the list of GOCCs with the biggest amount of subsidies received for the month, with P25.5 billion followed by the NIA with P1.806 billion, NPC (P936 million), NFA (P600 million) and LWUA (P237 million).
State-run health insurer Philippine Health Insurance Corp. finally received its first share of subsidy for the year in May amounting to P1 million.
