DOF re­ceives P11.33B from DOTr agen­cies

Sun.Star Cebu - - BUSINESS -

Fi­nance Sec­re­tary Car­los Dominguez III re­ceived three checks with a to­tal amount of P11.33 bil­lion rep­re­sent­ing the div­i­dends re­mit­ted to the na­tional gov­ern­ment for 2017 by three gov­ern­ment-owned and con­trolled cor­po­ra­tions (GOCCs) un­der the su­per­vi­sion of the Depart­ment of Trans­porta­tion (DOTr).

The Manila In­ter­na­tional Air­port Au­thor­ity (MIAA) for­mally turned over P2.01 bil­lion, the Civil Avi­a­tion Au­thor­ity of the Philip­pines (CAAP), P6.22 bil­lion, and the Philip­pine Ports Au­thor­ity, P3.1 bil­lion in checks on the side­lines of last Fri­day’s re­gional press launch of the Philip­pines’ host­ing of the 51st An­nual Meet­ing of the Asian De­vel­op­ment Bank (ADB).

DOTr Sec­re­tary Arthur Tu­gade led of­fi­cials of the three GOCCs in de­liv­er­ing the checks to Dominguez, who ac­cepted them on be­half of the Bu­reau of Trea­sury (BTr).

“I com­mend the MIAA, CAAP and PPA un­der the stew­ard­ship of Sec­re­tary Tu­gade for set­ting a good ex­am­ple to other GOCCs in terms of prac­tic­ing fis­cal dis­ci­pline,” Dominguez said.

The MIAA, CAAP, and PPA were among the top GOCCs to re­mit the high­est amounts of cash div­i­dends to the Trea­sury in 2017.

Div­i­dends re­mit­ted by GOCCs to the BTr in 2017 amounted to P30.45 bil­lion, rep­re­sent­ing a 9.8 per­cent in­crease from the pre­vi­ous year’s col­lec­tions of P27.73 bil­lion, ac­cord­ing to the DOF.

Dominguez said the 2017 div­i­dend col­lec­tions ac­tu­ally ex­ceeded the P27.73 bil­lion re­mit­tances in 2016 even if Land Bank of the Philip­pines was ex­empted from pay­ing its P6 bil­lion div­i­dends in 2017 to al­low it to re­cap­i­tal­ize and bet­ter serve the in­creas­ing de­vel­op­ment needs of the coun­try. Had these div­i­dends not been ex­empted, the to­tal div­i­dend would have reached P36.45 bil­lion.

Div­i­dend col­lec­tions to­tal­ing P30.45 bil­lion last year came from 53 GOCCs. /

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