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By Angelo S. Samonte, Reporter
DESPITE difficulties in raising
revenues in the first half, the national government increased the
amount of subsidy it extended to government-owned and -controlled
corporations (GOCCs), leading it to overshoot its full-year target.
Financial support extended to
these state-owned corporations jumped 70.4 percent to P10.584
billion compared with the original program of P3.173 billion.
Among the GOCCs that received a
huge portion of the subsidy include the National Housing Authority (NHA),
P2.21 billion; PhilHealth with P2.04 billion; Technology and
Livelihood Resource Center, P1.36 billion; and Land Bank of the
Philippines, P1.28 billion.
Total support given to GOCCs last
year amounted to P13.8 billion, but the government wants to reduce
it to P4.8 billion this year.
LandBank, PhilHealth, NHA and the
National Home Mortgage and Finance Corp. were the biggest recipients
of subsidy last year at P1.9 billion, P1.8 billion, P1.4 billion and
P1 billion, respectively.
Finance Secretary Margarito B.
Teves said the national government would further strengthen GOCC
performance and financial independence by implementing performance
contracts and setting measurable targets. The country already
secured funding support from the Asian Development Bank and the
Australian government overseas development program (AusAid) for the
purpose.
Teves said the national
government would start with the NFA as it is “beginning to be a
major ticket item than Napocor” and would move on to other GOCCs
in establishing track records.
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