MANILA, Philippines – Subsidies disbursed by the government to government-owned and controlled corporations (GOCCs) and state-owned agencies reached P17.439 billion last year, already way above the P11.3 billion programmed subsidies for the period, latest data from the Bureau of the Treasury (Btr) showed.
The latest figure is 17.43 percent more than the P21 billion disbursed in 2008, data also showed.
Subsidies are still on the rise despite plans by the Department of Finance (DOF) to slash subsidies for state-owned firms to plug the government’s yawning budget deficit.
For the whole of 2009, the single biggest recipient of government subsidies is cash-strapped National Food Authority (NFA) with P2 billion each in July and in November.
This makes NFA the biggest recipient of government subsidies since the start of the year.
The government subsidizes the operations of NFA because it is mandated to sell rice at lower prices, usually at a heavy loss for the agency and to state coffers.
The next biggest recipient is the National Housing Authority (NHA) which is mandated to develop and implement a comprehensive and integrated housing program for the poor. NHA received P3.858 billion in subsidies last year.
Other major recipients of subsidies last year are the Local Water Utilities Administration which received P1.950 billion and the Philippine National Railways which received P1.168 billion. PNR is mandated to provide railway services to promote economic development.
The National Home Mortgage Finance Corp., the government’s major secondary market for home mortgages that uses the funds of agencies to buy home mortgages, is also one of the highest recipients. It got P900 million in subsidies last year.
The DOF is continuously reviewing the performance of government-owned and controlled corporations to determine which may be recommended to Congress for abolition.
Subsidies given to state agencies are on the rise even as the government is facing a swelling budget deficit which is expected to hit a record P293 billion this year. –Iris C. Gonzales (The Philippine Star)
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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