Nov. GOCC subsidies grow 46%

STATE SUBSIDIES to governmentowned and -controlled corporations (GOCCs) grew 46.11% year-on-year to P11.815 billion in November, the Bureau of the Treasury (BTr) said.

According to the bureau’s cash operations report, the November total rose 63% from October.

In the 11 months to November, subsidies totaled P170.551 billion, against P187.1 billion budgeted for the year.

Philippine Health Insurance Corp. received the most budgetary support in November at P3.98 billion, up 44% year-on-year, followed by P2.758 billion for the National Irrigation Administration, up 62%, and P1.904 billion for the National Housing Authority.

Other top subsidy-receiving GOCCs were the Local Water Utilities Administration with P909 million, the Philippine Crop Insurance Corp. P772 billion, the Bases Conversion Development Authority P408 million, the Philippine Postal Corp. P271 million and the Philippine Heart Center P123 million.

Other state agencies that received more than P50 million worth of budgetary support in November were the Philippine National Railways with P81 million, the Philippine Children’s Medical Center P76 million, the Sugar Regulatory Administration P74 million, the National Kidney Transplant Institute P59 million, the Cultural Center of the Philippines P57 million and the Lung Center of the Philippines P51 million.

Those left unsubsidized were Land Bank of the Philippines, the National Electrification Administration, the National Food Authority, the National Power Corp., the Development Academy of the Philippines, the Small Business Corp. and the Social Housing Finance Corp. —