Subsidies extended by the national government to state-owned firms declined in October, data from the Bureau of the Treasury showed, with the bulk extended to the National Irrigation Administration (NIA).
Twenty-six government-owned and -controlled corporations got a total of P6.31 billion assistance during the month, down by 12.8 percent from P7.23 billion in October 2019.
NIA secured P4.26 billion during the month. The agency is responsible for irrigation development and management in the country.
The National Electrification Administration came in second in subsidies received with P885 million followed by the National Housing Authority with P252 million.
Also securing assistance in October were the Local Water Utilities Administration, Aurora Pacific Economic Zone and Freeport Authority, Cultural Center of the Philippines, Cagayan Economic Zone Authority, Credit Information Corp., Center for International Trade Expositions and Missions, IBC-13, Lung Center of the Philippines, National Dairy Authority, National Kidney and Transplant Institute, Philippine Coconut Authority, Philippine Center for Economic Development, Philippine Children’s Medical Center, Philippine Heart Center, Philippine Rice Research Institute, Philippine Institute for Development Studies, Philippine Institute for Traditional and Alternative Health Care, People’s Television Network Inc., Subic Bay Metropolitan Authority, Southern Philippines Development Authority, Tourism Infrastructure and Enterprise Zone Authority, and Zamboanga City Special Economic Zone.
Year-to-date, government subsidies reached P205.91 billion.
The Social Security System (SSS) got the biggest allocation during the 10-month period with P51 billion. It can be noted that SSS was the implementing agency of the P 51-billion Small Business Wage Subsidy (SBWS) program.
Launched in April, the SBWS program provided 3.1 million workers in the formal sector employed in micro, small and medium enterprises P5,000 to P8,000 wage subsidies for the month of April and May. The amount of the subsidies depends on the regions where the workers are employed.
In 2019, the government gave away a record P201.52 billion in subsidies.
Subsidies are part of the national government’s disbursement program.
Twenty-six government-owned and -controlled corporations got a total of P6.31 billion assistance during the month, down by 12.8 percent from P7.23 billion in October 2019.
NIA secured P4.26 billion during the month. The agency is responsible for irrigation development and management in the country.
The National Electrification Administration came in second in subsidies received with P885 million followed by the National Housing Authority with P252 million.
Also securing assistance in October were the Local Water Utilities Administration, Aurora Pacific Economic Zone and Freeport Authority, Cultural Center of the Philippines, Cagayan Economic Zone Authority, Credit Information Corp., Center for International Trade Expositions and Missions, IBC-13, Lung Center of the Philippines, National Dairy Authority, National Kidney and Transplant Institute, Philippine Coconut Authority, Philippine Center for Economic Development, Philippine Children’s Medical Center, Philippine Heart Center, Philippine Rice Research Institute, Philippine Institute for Development Studies, Philippine Institute for Traditional and Alternative Health Care, People’s Television Network Inc., Subic Bay Metropolitan Authority, Southern Philippines Development Authority, Tourism Infrastructure and Enterprise Zone Authority, and Zamboanga City Special Economic Zone.
Year-to-date, government subsidies reached P205.91 billion.
The Social Security System (SSS) got the biggest allocation during the 10-month period with P51 billion. It can be noted that SSS was the implementing agency of the P 51-billion Small Business Wage Subsidy (SBWS) program.
Launched in April, the SBWS program provided 3.1 million workers in the formal sector employed in micro, small and medium enterprises P5,000 to P8,000 wage subsidies for the month of April and May. The amount of the subsidies depends on the regions where the workers are employed.
In 2019, the government gave away a record P201.52 billion in subsidies.
Subsidies are part of the national government’s disbursement program.
