NFA receives biggest govt subsidy in 3 years

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The National Food Authority (NFA) snagged the biggest portion of government subsidy from 2010 to 2012 among the rank of 54 government-owned and -controlled corporations (GOCCs), obtaining 30 percent of the billion-worth grant for the last three years.

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According to the Commission on Audit (COA), the Grains authority had a total of P61.17 billion out of the available P200 billion grant from the state from 2010 to 2012.

The NFA had a total of P38.42 billion in subsidy in 2010. This shrank to P9.21 billion in 2011 but picked up to P13.54 billion in 2012.

COA explained that these grants were “in the form of tax subsidy, equity contributions and other subsidies.”

For 2012 alone, out of the P70.4-billion subsidy for the 54 GOCCs, COA said that P31.79 billion was used for tax subsidy, conversion of advances and offsetting of guarantee fee.

The Philippine Health and Insurance Corp. (PhilHealth) came in at second with 12.10-percent share out of the P200 billion for the last three years.

PhilHealth had P3.5 billion in 2010, P6.63 billion in 2011, and P14.06 billion in 2012.

The National Housing Authority closed in at third: P3.5 billion  in 2010, P16.19 billion in 2011, and P2.39 billion in 2012 or a total of P22.09 billion, which is 11.05 percent of the P200 billion.

The Power Sector Assets and Liabilities Management Corp. (Psalm) came in at fourth even it was only subsidized in 2012 with P16.54 billion.

Another power company, National Power Corp. (Napocor), capped off the fifth spot with 7.04 percent. Napocor was only subsidized in 2011 with P14.09 billion.

2012 top five

In 2012 alone, Psalm had the biggest share of subsidy. Followed by Philhealth and NFA.

Another power company, the National Electrification Administration, settled at fourth with P4.95 billion out of the 2012’s P70.4-billion subsidy.

Philippine Deposit Insurance Corp. closed the top five for 2012 with P4.32 billion.

Controversy-rigged Social Security System was only subsidized in 2012 with P45.28 million.

The National Agribusiness Corp., the GOCC which was connected to the pork barrel scam, had P20 million only in 2010, being the least among the 54 recipients.

Other billion-worth recipients for 2012 include the National Irrigation Administration (P2.81 billion), National Housing Authority (P2.39 billion), Manila Waterworks and Sewerage System (P1.82 billion), Philippine Coconut Authority (P1.18 billion), and the Government Service Insurance System (P1.5 billion). JOHN CONSTANTINE G. CORDON

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