Subsidies extended by the national government to state-owned firms shrank in September, data from the Bureau of the Treasury showed, with the bulk extended to the National Irrigation Administration (NIA).
Thirty one government-owned and -controlled corporations got a total of P7.12-billion assistance during the month, down by 88.1 percent from P60.27 billion in August 2019.
NIA secured P2.62 billion last month. The agency is responsible for irrigation development and management in the country.
The Bases Conversion Development Authority came in second in subsidies received with P1.03 billion followed by National Power Corp. with P753 million.
Also securing assistance in September were the National Home Mortgage Finance Corp., Local Water Utilities Administration, National Electrification Administration, Aurora Pacific Economic Zone and Freeport Authority, Cultural Center of the Philippines, Credit Information Corp., Center for International Trade Expositions and Missions, Development Academy of the Philippines, IBC-13, Lung Center of the Philippines, National Dairy Authority, National Kidney and Transplant Institute, Philippine Coconut Authority, Philippine Center for Economic Development, Philippine Crop Insurance Corp., Philippine Children’s Medical Center, Philippine Fisheries Development Authority, Philippine Heart Center, Philippine Health Insurance Corporation, Philippine Rice Research Institute, Philippine Institute for Development Studies, PPC, People’s Television Network Inc., Subic Bay Metropolitan Authority, Social Housing Finance Corp., and Zamboanga City Special
Economic Zone.
Year-to-date, government subsidies reached P199.6 billion.
The Social Security System (SSS) got the biggest allocation during the nine-month period with P51 billion. It can be noted that SSS was the implementing agency of the P 51-billion Small Business Wage Subsidy (SBWS) program.
Launched in April, the SBWS program provided 3.1 million workers in the formal sector employed in micro, small and medium enterprises P5,000 to P8,000 wage subsidies for the month of April and May. The amount of the subsidies depends on the regions where the workers are employed.
In 2019, the government gave away a record P201.52 billion in subsidies.
Subsidies are part of the national government’s disbursement program.
Thirty one government-owned and -controlled corporations got a total of P7.12-billion assistance during the month, down by 88.1 percent from P60.27 billion in August 2019.
NIA secured P2.62 billion last month. The agency is responsible for irrigation development and management in the country.
The Bases Conversion Development Authority came in second in subsidies received with P1.03 billion followed by National Power Corp. with P753 million.
Also securing assistance in September were the National Home Mortgage Finance Corp., Local Water Utilities Administration, National Electrification Administration, Aurora Pacific Economic Zone and Freeport Authority, Cultural Center of the Philippines, Credit Information Corp., Center for International Trade Expositions and Missions, Development Academy of the Philippines, IBC-13, Lung Center of the Philippines, National Dairy Authority, National Kidney and Transplant Institute, Philippine Coconut Authority, Philippine Center for Economic Development, Philippine Crop Insurance Corp., Philippine Children’s Medical Center, Philippine Fisheries Development Authority, Philippine Heart Center, Philippine Health Insurance Corporation, Philippine Rice Research Institute, Philippine Institute for Development Studies, PPC, People’s Television Network Inc., Subic Bay Metropolitan Authority, Social Housing Finance Corp., and Zamboanga City Special
Economic Zone.
Year-to-date, government subsidies reached P199.6 billion.
The Social Security System (SSS) got the biggest allocation during the nine-month period with P51 billion. It can be noted that SSS was the implementing agency of the P 51-billion Small Business Wage Subsidy (SBWS) program.
Launched in April, the SBWS program provided 3.1 million workers in the formal sector employed in micro, small and medium enterprises P5,000 to P8,000 wage subsidies for the month of April and May. The amount of the subsidies depends on the regions where the workers are employed.
In 2019, the government gave away a record P201.52 billion in subsidies.
Subsidies are part of the national government’s disbursement program.
