Govt transport firms remit P25.78B to national coffers


THE Department of Transportation on Wednesday said its revenue-generating agencies and offices remitted P25.78 billion to the national treasury last year.

The Land Transportation Office (LTO) remitted P21.35 billion and the Maritime Industry Authority (Marina) transferred P1.12 billion. The Toll Regulatory Board sent P934 million, the Office of Transport Security (OTS) paid P831 million, and the Land Transportation Franchising Regulatory Board conveyed P689 million.

At P42.680 billion, the DoTr has received one of the highest allocations from the P3.002 trillion General Appropriations Act of 2016.

Three transport offices transmitted dividends to the state coffers in May, covering earnings in 2016. The Manila International Airport Authority remitted P2.26 billion, the Civil Aviation Authority of the Philippines transferred P1.98 billion, and the Philippine Ports Authority transmitted P1.95 billion.

Transportation Secretary Arthur Tugade instructed CAAP to transfer money to the national coffers under his term, since the agency did remit P6.31 billion of dividends from 2011 to 2015.

In the first quarter of the year, remittances from government-owned and controlled corporations totaled P7.095 billion, including P5.76 billion from the LTO and P294 million each from Marina and the OTS.


Please follow our commenting guidelines.

Comments are closed.