From the Governance Commission for Government Owned or Controlled Corporations
The number of Government-Owned or -Controlled Corporations (GOCCs) that remit earnings, or dividends, to the national coffers continue to increase according to the Governance Commission for GOCCs (GCG).
In simple rites held this morning, chairpersons and chief executive officers of various GOCCs personally handed remittance checks to President Benigno S. Aquino III in a ceremony marking GOCC Day at the Rizal Hall, Malacañan Palace.
GCG, the central advisory body that monitors and oversees the GOCC Sector, said that the number of GOCCs that have declared dividends increased from 38 in 2012 to 50 in 2013.
The GOCC sector remitted a total of P32.31 billion worth of dividends and other remittances for the past year. Land Bank of the Philippines (LBP) had the highest dividends remitted with P6.298 billion. Philippine Amusement and Gaming Corporation (PAGCOR), on the other hand, had the highest total remittances at P9.791 billion. 7 GOCCs are also included in the elite class of contributors, or the so called “Billionaires’ Club,” that have declared P1 billion or more in dividends.
This year’s Billionaires’ Club include: Development Bank of the Philippines (DBP) with P3.616 billion; Power Sector Assets & Liabilities Management Corporation (PSALM) with P2.5 billion; Bases Conversion Development Authority (BCDA) with P2.107 billion; Manila International Airport Authority (MIAA) with P1.577 billion; Philippine National Oil Company-Exploration Corporation (PNOC-EC) with P1.5 billion; Philippine Ports Authority (PPA) with P1.422 billion; and Philippine Deposit Insurance Corporation (PDIC) with P1.05 billion.
GOCCs are required to declare and remit at least half of their income as dividends to the National Government under R.A. No. 7656. The Department of Finance (DOF) started the celebration of the GOCC Day in 2011. Since 2012, GCG has continued the tradition of the annual ceremonial turnover over of GOCCs’ dividends and recognition of other GOCCs that made significant contributions to national development.
gcg.gov.ph
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For widespread, practical equality!”
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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