THE government is eyeing to privatize some of its assets, including its shares in Semirara Mining and Power Corp., the Department of Finance (DOF) said.
DOF undersecretary and chief economist Domini Velasquez, in her presentation at the Management Association of the Philippines’ General Membership Meeting in Taguig yesterday, identified several assets of the government that will be up for sale.
“We are offering a range of these valuable assets ripe for investments in the next few years,” Velasquez said.
The sale of the assets are seen to generate more non-tax revenues for the government.
Among these, Velasquez said, are the government’s more than 145 million shares in Semirara.
Velasquez said the valuation for the shares is yet to be determined.
“We’re still reviewing it but that’s up for privatization already,” Velasquez told reporters on the sidelines of the event.
“The timeline should be anytime soon, I think that’s being discussed, it should be within the next year. But of course, it’s (also based on) market timing,” she added.
In her presentation, Velasquez also identified other assets that are in the pipeline for privatization, such as the Star City property, the Mile Long Building, the United Coconut Chemicals Inc. shares of stock, Elorde Sports and Tourism Development Corp. and condominium units located in Atrium, Makati City.
Meanwhile, the DOF official also shared a list of government assets targeted for disposal next year. This list excludes the government’s shares of stocks and only comprises of hard assets.
Aside from the Mile Long Complex in Makati City, some of the many other assets that are up for privatization in 2025 are the Food Terminal Inc. in Taguig City, Financial Center Area in Pasay City, Ecology Villages in Makati City, Caloocan property of the National Housing Authority, Fil-Eastern Woods Industries Inc. property in Quezon City, Pioneer Glass Manufacturing Corp. property in Rosario, Cavite, and the Mindanao Progress Corp. property in Quezon City.
For this year, the government eyes to raise a total of P42 billion from the disposition of its assets, while for next year, privatization proceeds could reach around P100 billion.
