PMO remits P17.4 million in January

The sale of and lease rentals from state properties for privatization, along with the interest income from still unsold government assets, brought in P17.4 million of remittances to the Bureau of the Treasury (BTr) in the first month of 2018, according to a report by the Privatization and Management Office (PMO) to the Department of Finance (DOF).

Lawyer Gerard Chan, chief privatization officer of the PMO, reported to Finance Secretary Carlos Dominguez III that the PMO forwarded to the BTr a Land Bank of the Philippines check dated Jan. 24 in the amount of P17,399,864.03 from the December 2017 collection.

Of this amount, P11,287,801.17 came from the sale of government properties and other assets, P6,094,494.49 from lease rentals, and P17,568.37 from CARP (Comprehensive Agrarian Reform Program) -receivables, Chan said.

He said P6,772,680.70 of the sales amount will accrue to the Agrarian Reform Fund while a total of P10,627,183.33 from the portion of the sales, along with the amount collected from the lease rentals and interest income, will go to the general fund.

Earlier, the PMO turned over to the BTr Landbank check no. 149416 dated Oct. 19 for the amount of P289,485,684.91.

This was the biggest amount remitted by PMO so far from January-September 2017, which came from the sale of shares in Asean Finance Corp. and special cash dividend from Semirara Mining Corp. /