GOCCs remit over P32 billion in dividends

Fifty Government-Owned and Controlled Corporations (GOCCs) remitted Monday P32.31 billion worth of dividends to the National Treasury.

2014 GOCC Dividends Day
Photo by Marcelino Pascua/Malacanang
The turnover, held June 9 at the Rizal Hall in MalacaƱang during the 2014 GOCC Dividends Day, was witnessed by President Benigno Aquino III, who attributed the increase in GOCC remittances to good governance.

The annual ceremony is where GOCCs declare and remit to the government their earnings which will be used for the country's welfare.

"Bawat taon, naisasabuhay ninyo (GOCCs) ang inyong tunay na layunin: Ang maging tagapagtaguyod ng makabuluhang serbisyo at malawakang pag-unlad," the chief executive said in his speech.

“Tapos na ang panahon kung kailan ang mga GOCC ay ginamit ng iilan para pakapalin ang sariling bulsa; kung saan ang mga GOCC ay ginawang tambayan at parking space ng mga kabarkada at alipores ng iilang makapangyarihan. Nagpatupad tayo ng reporma, at habang umuusad ang panahon, lalo nating pinagtitibay ito; lalo nating ginagawang masigasig ang pagtatrabaho tungo sa pagbabago; at lalong nagiging imposible na bumalik pa sa dating sistema,” he said.

Aquino added there's already clear evidence that reforms at GOCCs have been efficient despite pessimistic views of his administration's critics.

“Sa araw na ito, malinaw na malinaw: Hindi tayo katulad nila. Tingnan na lamang po natin ang kabuuang halaga ng dibidendong nailagak natin sa kaban ng bayan mula nang maisabatas ang ating GOCC Governance Act of 2011,” he said.

Last year, only 38 GOCCs remitted a total of P29 billion representing their 2012 earnings.

For 2013, the biggest contributors were Philippine Amusement and Gaming Corporation or PAGCOR (P9.791B) and Land Bank of the Philippines (P6.298B).

Other GOCCs who remitted over P1B in dividends, the Palace said, were Development Bank of the Philippines (DBP), Manila International Airport Authority (MIAA), Philippine National Oil Company – Exploration Corporation (PNOC-EC), and the Philippine Deposit Insurance Corporation (PDIC).