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
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
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!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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