GOCC budgetary support lower in Feb

GOVERNMENT-OWNED and controlled corporations (GOCCs) received substantially lower budgetary support in February compared to a year earlier, data from the Bureau of the Treasury showed.

At P7.57 billion, it was markedly down from P12.72 billion a year earlier and took year-to-date GOCC subsidies to P11.96 billion, also lower than the P12.72 billion recorded. January-February 2024.

Month on month, however, the amount released in February was higher than January's P4.39 billion.

Broken down, government financial institutions (GFIs) received P63 million in February, down from P1.04 billion a year earlier but unchanged from January.

As of end-February, GFIs had received P126 million, down from P1.04 billion in the same period last year.

Major nonfinancial state firms, meanwhile, saw their allocations increase to P3.24 billion, higher than the P9.78 billion a year ago but slightly lower than January's P3.42 billion.

This took their tally so far for the year to P6.67 billion, down from the P9.78 billion seen as of end-February last year.

Disbursements to other state-owned firms rose to P4.27 billion from P1.9 billion and P899 million a year and a month earlier, respectively, taking the two-month count to P5.17 billion from P1.9 billion.

The National Irrigation Administration accounted for the lion's share of February's subsidies at P3.16 billion from P3.22 billion a year earlier.

The Bases Conversion and Development Authority followed with P1.94 billion compared from zero last year. In third was the Philippine Fisheries Development Authority with P975 million from zero a year ago.

Rounding up the top five were the National Kidney and Transplant Institute, P316 million, up from P207 billion last year, and the Sugar Regulatory Administration, P231 million from P284 million.