The national government provided more than P153 billion worth of subsidies to government-owned and controlled corporations (GOCCs) in the first 11 months of 2023.
Data from the Bureau of the Treasury showed that the Philippine Health Insurance Corp. (PHIC) received the biggest subsidy amounting to P50.74 billion in the 11-month period.
The National Irrigation Administration followed with P34.43 billion. Other GOCCs the received the biggest amount to sustain their operations are the National Housing Authority (NHA) with P17.83 billion; National Food Authority, P9.70 billion and Power Sector Assets and Liabilities Management Corp. (PSALM), P5 billion.
The Treasury said the national government’s subsidies for GOCCs slightly went up in November 2023 to P6.74 billion from P6.16 billion in the same month in 2022.
National Irrigation Administration (NIA) was the biggest recipient of budgetary support amounting to P2.51 billion in November, followed by the NFA with P1.66 billion and Philippine Postal Corp. with P500 million.
Other GOCCs that received big subsidies in November were the Philippine Fisheries Development Authority with P274 million; National Electrification Administration, P224 million; Philippine Heart Center, 178 million; Philippine Children’s Medical Center, P135 million; PhilHealth, P132 million and National Kidney Institute, P116 million.