Abad: Php 32.3-B GOCC earnings to buoy post-calamity aid

By Lilybeth G. Ison

MANILA, June 9 (PNA) — Following the official turnover of dividends and remittances collected by government-owned or -controlled corporations (GOCCs) to the National Government, Budget and Management Secretary Florencio “Butch” Abad on Monday said that part of the GOCC earnings — which amounted to P32.3 billion this year — will help widen the country’s budgetary legroom for social and economic services, especially those related to post-calamity aid.

GOCC earnings this year posted a notable increase over 2013 levels, which amounted to P27.9 billion.

The Department of Budget and Management (DBM) also confirmed that the GOCC dividends can be used to boost the government’s “unprogrammed fund”, which can in turn support rehabilitation efforts in super typhoon Yolanda-affected areas.

“Restoring normalcy in Yolanda-stricken communities is still a priority for the Aquino administration, one that this year’s GOCC dividends can very well address,” said Abad in a statement.

“It’s not just a matter of ensuring the continued stability of the country’s economy of preserving the soundness of our fiscal management strategy. It all comes down to bringing Yolanda’s victims back to their feet and helping them rebuild the lives and communities that the typhoon did so much damage to,” he added.

Abad also lauded the country’s GOCCs for consistently improving their performance, adding that efforts by the Governance Commission on GOCCs (GCG) helped boost transparency and accountability in GOCC operations.

“GOCCs have been tracking remarkable earnings since 2011, thanks to their focused efforts at enhancing their productivity and good governance practices. The GCG has likewise played a central role in ensuring greater transparency, accountability, and openness among government corporations,” he said.

Such governance reforms, Abad said, “have made a huge and positive difference in the way our GOCCs work, and that’s a legacy that the Aquino administration hopes to sustain beyond its term.” (PNA)