The government has raised a little more than a quarter of its revenue target from the sale of assets this year. According to Department of Finance (DOF) Undersecretary John Philip Sevilla, the agency already raised P500 million to P600 million from the disposal of “small” properties.
“We expect to meet the P2 billion that we are targeting to raise from privatization this year . . . We are confident we could sell the other items before the end of the year,” he said.
Early this year, the Development and Budget Coordinating Committee (DBCC) brought down the privatization goal from P30 billion to P2 billion as it excluded the sale of the government’s 10-percent stake in the Malampaya natural gas field. The government was supposed to raise P16 billion from the disposal of the state-led Philippine National Oil Co.-Exploration Corp.’s cash cow.
According to the Congressional Policy and Budget Research Department, the DBCC assumed that long-standing plans to privatize state assets would generate P6 billion. Those that are scheduled for sale are the properties of Food Terminal Inc. for P5 billion; NG Makati Property, P600 million; Semirara Coal Corp., P106.4 million; Elorde Sports and Tourism Development Corp., P96.8 million; Pioneer Glass Corp., P82 million; and other assets, P40 million. –LIKHA CUEVAS-MIEL ASSISTANT BUSINESS EDITOR, Manila Times
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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