THE national government’s subsidies to government-owned and -controlled corporations (GOCCs) amounted to P36.15 billion in the first quarter of the year, data released by the Bureau of the Treasury (BTr) showed.
According to data posted in the BTr’s website, the financial support released to GOCCs in the first three months of the year is 288.59 percent higher than the P9.304 billion distributed in the same period a year ago.
The National Electrification Administration (NEA) received the lion’s share with P11.02 billion.
This was followed by the Light Rail Transit Authority (LRTA) with P10.59 billion, National Irrigation Administration (NIA) with P8.84 billion, National Food Authority with P2.98 billion, and the Small Business Corp. with P500 million.
In March alone, the national government released P25.67 billion to state-owned and -controlled firms.
This amount is 347.16 percent higher than the P5.74 billion disbursed in the same month a year ago.
NEA still topped the list of major recipients with P11.02 billion.
Other top recipients are the LRTA (P10.42 billion), NIA (P2.95 billion), Philippine Fisheries Development Authority (P342 million), and National Housing Authority (P288 million).