Subsidies to state-owned corporations surge 355.7% in April

SUBSIDIES provided to government-owned and -controlled corporations (GOCCs) surged to P66.28 billion in April, up 355.7% from a year earlier, the Bureau of the Treasury reported.

Month on month, GOCC subsidies rose 265.2%.

State-owned firms receive monthly subsidies from the National Government to support their daily operations if their revenue is insufficient.

In April, the Philippine Health Insurance Corp. (PhilHealth) received the largest subsidy amounting to P60 billion. This involves a returned fund balance from unutilized subsidies remitted to the Bureau of the Treasury in 2024 following a Supreme Court ruling.

The next highest recipients for that month were the National Food Authority (NFA) at P2.47 billion and the National Irrigation Administration (NIA) at P917 million.

It was followed by the Small Business Corp. (P625 million), the Philippine Rice Research Institute (P362 million), the Philippine Coconut Authority (P231 million), the Philippine Crop Insurance Corp. (P213 million), and the Philippine Heart Center (P202 million).

Agencies with the lowest non-zero subsidies included Zamboanga City Special Economic Zone Authority (P4 million), Philippine Tourism Authority (P5 million) and Southern Philippines Development Authority (P7 million).

Meanwhile, the National Electrification Administration, Bases Conversion and Development Authority, Philippine Fisheries Development Authority, Power Sector Assets and Liabilities Management Corp., and Subic Bay Metropolitan Authority did not receive subsidies.

In the first four months, GOCC subsidies hit P93.13 billion, up 150.8%.

The biggest recipients in the four months to April period were PhilHealth (P60 billion), the NIA (P7.84 billion), and the NFA (P6.34 billion). — Justine Irish D. Tabile