Gov’t receives P36-B remittances from GOCCs

By , on May 14, 2015


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MANILA — The government received P36.857 billion in remittances from the government-owned and controlled corporations (GOCCs) during the GOCC Dividends Day at Malacanang yesterday.

The remittances increased from  P32.31 billion recorded in 2013 to P6.857 billion last year.

Philippine Deposit Insurance Corp. president Cristina Orbeta presented a P2.1-billion check to the President, as a proof of the administrations’ continuous reforms in the government.

The dividends remitted by the GOCCs increased from P84.18 billion from 2001 to 2009, to P131.28 billion from 2010 to this year.

During his speech at the turnover of checks yesterday, Aquino urged the GOCCs to double their efforts and reach the target of P160 billion or double the P84.18 billion it generated within just five years.

Aquino also cited the achievements of the Government Service Insurance System growing to P131 billion last year from the P64 billion recorded in 2010.

To crown their efforts, Aquino also asked Finance Secretary Cesar Purisima, GCG chairman Cesar Villanueva and Budget Secretary Florencio Abad to review the bonuses that had been accruing for everyone involved in the GOCCs.

“Because in our interest to make you more efficient, you might be the ones who would be forgotten. You made the country happy, you might end up to be ones getting too sad,” Aquino said.