<<<PRESS RELEASES

49 GOCCS REMIT P 36.85-B TO NATIONAL TREASURY

POSTED LAST 27 May 2015 - 04:36 pm

(released 13 May, 2015)

Government-Owned or-Controlled Corporations (GOCCs) continue to post robust remittances to the national treasury according to the Governance Commission for GOCCs (GCG).

The GOCC sector handed over checks totaling P36.85 billion to President Benigno S. Aquino III in a simple ceremony entitled “2015 GOCC Day” at the Rizal Hall in Malacañang Palace today.

Forty-eight1 GOCCs, led by their respective Chairpersons and Chief Executive Officers, handed over their checks to President Aquino in the annual ceremonial turnover of GOCCs’ dividends and recognition of GOCCs’ achievements and their significant contributions to the country’s national development.

The Governance Commission said that this year’s GOCC dividends and other remittances increased from a total of P32.31 billion in 2013 to P36.85 billion in 2014.

The Landbank of the Philippines (LBP) had the highest dividends and remitted a total of P6.254 billion. The Philippine Amusement and Gaming Corporation (PAGCOR), on the other hand, had the highest total remittances at P10.137 billion. LBP and PAGCOR are joined by 8 more GOCCs in the Billionaires’ Club – an elite class of contributors that have declared P1 billion or more in dividends.

This year’s Billionaires’ Club include: Bases Conversion Development Authority (BCDA) with P3.201 billion; Development Bank of the Philippines (DBP) with P3.135 billion; Food Terminal, Inc. with P2.305 billion; Philippine Deposit Insurance Corporation (PDIC) with P2.1 billion; Philippine Ports Authority (PPA) with P1.822 billion; Philippine National Oil Company (PNOC) with P1.525 billion; Manila International Airport Authority (MIAA) with P1.339 billion; and Philippine Reclamation Authority with P1.2 billion.

GOCCs are required to declare and remit at least 50% of their income as dividends to the National Government pursuant to Republic Act No. 7656. The Department of Finance (DOF) started the celebration of the GOCC Day in 2011. Since 2012, the Governance Commission has continued the tradition of the annual ceremonial turnover over of GOCCs’ dividends and recognition of other GOCCs that made significant contributions to national development.

To view the complete list of remitting GOCCs, click here.

 

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1 Excluding the Tourism Infrastructure and Enterprise Zone Authority that did not attend the 2015 GOCC Day.

 

 

Contact:

Bea Nadine V. Barte

(02) 328 – 2030 to 34

[email protected]

www.gcg.gov.ph