The government has received more than P160 billion in dividends from state-owned firms as of mid-December, the Department of Finance (DoF) reported on Wednesday. In a statement, the Finance department said 62 government-owned and -controlled corporations (GOCCs) remitted P160.62 billion to the Bureau of the Treasury (BTr) as of December 15. Unutilized subsidies, payment of guarantee fees and NG advances, and other forms of remittances account for the remaining P27.12 billion. The dividends are “almost double the actual full-year collections for 2019,” which amounted to P69.2 billion, the DoF said. The Philippine Deposit Insurance Corp. and Philippine Amusement and Gaming Corp. followed with P17.98 billion and P17 billion, respectively.

Source: Manila Times December 30, 2020 16:30 UTC