Page 9 - பிலிப்பைன் போர்ட்ஸ் அதிகாரம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Published July 13, 2021, 12:20 PM State-run National Transmission Corp. (Transco) plans to remit the company’s entire profit to the government’s coffers to help fund the country’s coronavirus response programs, the Department of Finance (DOF) revealed. In a statement, the finance department said on Tuesday, July 13, that Transco will secure the approval of its board to comply with the DOF’s directive increasing the dividend remittance of the company for 2020 to 75 percent of its net earnings. But instead of just 75 percent, Melvin Matibag, Transco president and chief executive officer said in his letter to Finance Secretary Carlos G. Dominguez III that they are “even open” to shell-out 100 percent of its net income last year for COVID-19 response.

Subic bayMelvin matibagCarlosg dominguezCorporate affairs groupExploration corpPhilippine deposit insurance corpNational transmission corpDevelopment authorityPhilippine ports authoritySubic bay metropolitan authorityDepartment of financeDepartment of budgetBureau of the treasuryGaming corpNational governmentState run national transmission