51 remit P31 billion to the treasury

FIFTY-one of 77 government-owned and -controlled corporations (GOCCs) have remitted P31.297 billion to the National Treasury as of the second week of July this year, according to data from the Department of Finance (DOF). The dividends recorded by the DOF’s Corporate Affairs Group (CAG) as of July 12 already exceed the full-year total of P27.735 billion contributed by GOCCs in 2016 and P30.45 billion in 2017, and is poised to easily surpass the record of P33.473 billion remitted in 2015. Dividend collections as of July 12 were also 64 percent higher than the P19.1 billion remitted by GOCCs for the same period last year, according to the CAG. Of the 51 GOCCs that have remitted cash dividends as of July 11, the top contributors were the Civil Aviation Authority of the Philippines (CAAP), with P6.224 billion, followed by the Philippine Ports Authority (PPA) with P 3,103 billion; Philippine Deposit Insurance Corp. (PDIC), P2.844 billion; Philippine Amusement and Gaming Corp. (PAGCOR), P2.593 billion; and the Philippine Charity Sweepstakes Office (PCSO), P2.535 billion. (PR)