GOCC dividends to govt down in H1

The national government saw steep first half drop in dividends from state-owned firms following an exemption granted to Land Bank of the Philippines and the absence of a one-time gain recorded last year.

Government-owned and -controlled corporations (GOCCs) had remitted P18.78 billion to the Bureau of the Treasury as of end-June, Finance Undersecretary Antonette Tionko said, down 32.7 percent from the P27.94 billion a year ago.