Government subsidy to GOCCs up nearly 50% in March

A branch of Philhealth, which received the bulk of government subsidy in March.

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MANILA, Philippines - State subsidies for government-owned or controlled corporations (GOCCs) rose by nearly half in March.

Data from the Bureau of the Treasury showed the Aquino administration gave out P4.097 billion in financial assistance last month, 48.6 percent higher than the amount given during the same month last year.

This brought to P5.078 billion the subsidy given out during the first three months of the year, 28.2 percent lower than the P7.073 billion the government gave out last year.

The bulk of the government aid went to Philhealth, which received P2.062 billion at end-March.

Last week, Budget Secretary Florencio Abad said the government will start shouldering the full amount of Philhealth premiums for 3.41 million indigent Filipinos, after the Department of Justice authorized the use of P8.3 billion for the purpose.

After Philhealth, the National Housing Authority was the second biggest recipient of state aid at P1.099 billion in the first quarter, while the National Irrigation Administration got the third highest amount at P516 million.

The National Livelihood and Development Corp. received its first monetary support for the year last month with P370 million.

The Philippine Coconut Authority likewise got a substantial amount with P296 million in the first quarter, P99 million of which was handed out in March.

The Philippine Rubber Research Institute and Philippine Heart Center were extended P84 million and P71 million, respectively.

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