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GOCC subsidies top P230 billion in 2020, up more than 14%

March 7, 2021 | 7:49 pm
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PHILSTAR
SUBSIDIES PROVIDED to government-owned and -controlled corporations (GOCCs) rose 14.34% in 2020 to P230.418 billion, with close to half going to the Philippine Health Insurance Corp. (PhilHealth) and the Social Security System (SSS), which implemented a wage subsidy program designed to keep workers employed during the pandemic.
The subsidy totals were released by the Bureau of the Treasury over the weekend.
The overall subsidies exceeded the reduced P191-billion budget for the year by 53%.
In December, subsidies rose 68% to P42.561 billion.
Some P113 billion went to PhilHealth and the SSS, with the former receiving support for its increased coverage for coronavirus disease 2019 (COVID-19) cases and the pension fund implementing the wage subsidy program. ....

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Gov't-owned firms remit P160.62B to Treasury —DOF

By TED CORDERO, GMA News
Published January 1, 2021 12:23pm
Government-owned or -controlled corporations (GOCCs) remitted a total of P160.62 billion to the Bureau of the Treasury (BTr) as of December 15, 2020, according to the Department of Finance (DOF).
In a statement, the DOF said the GOCCs’ remittances will help fund the government’s continuing efforts to curb the spread of COVID-19 and provide economic relief to pandemic-hit businesses and individuals.
Of the P160.62-billion remitted to the Treasury, P133.50 billion represents the cash dividends from 55 GOCCs as mandated under Republic Act (RA) No. 7656 or the Dividends Law.
The RA 7656 requires GOCCs to remit at least 50% of their net earnings to the National Government (NG). ....

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