The Finance department’s Privatization and Management Office (PMO) has generated over P500 million from property sales, cash dividends and other forms of revenue raised from assets owned by the government.
In a report to Finance Secretary Carlos Dominguez 3rd, acting chief privatization officer Gerard Chan said a total of P554.44 million had been remitted to the Bureau of Treasury (BTr) as of September 30, 2017, exclusive of authorized retention amounts of P22.8 million.
The Finance department said the amount was the largest nine-month remittance to date and was primarily due from the sale of shares in Asean Finance Corp. and a special cash dividend from Semirara Mining Corp.
Lease proceeds, agrarian reform program-covered landholdings, interest income and other dispositions also contributed, it added.
The Finance department also noted that total PMO remittances during the first six months of the Duterte administration, or from July to December 206, had totaled P286.4 million.