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Subsidies given by the national government to state-owned companies were cut in September, data from the Treasury Office showed, with most of it extended to the National Irrigation Administration (NIA).
Thirty-one government-owned and controlled corporations obtained a total of P7.12 billion in assistance during the month, 88.1 percent less than P60.27 billion in August 2019.
NIA insured P2.62 billion last month. The agency is responsible for the development and management of irrigation in the country.
The Base Conversion Development Authority ranked second in grants received with P1.03 billion, followed by National Power Corp. with P753 million.
In September, the National Housing Mortgage Financing Corporation, the Local Water Services Administration, the National Electrification Administration, the Aurora Pacific Economic Zone and the Free Port Authority, the Cultural Center of the Philippines, the Information Corporation received assistance. Crediticia, International Trade Mission and Exhibition Center, Philippine Development Academy, IBC-13, Philippine Pulmonary Center, National Dairy Authority, National Kidney and Transplant Institute, Philippine Coconut Authority, Philippines Economic Development Center Philippines, Philippine Crop Insurance Corporation, Philippine Children’s Medical Center, Philippine Fisheries Development Authority, Philippine Heart Center, Philippine Health Insurance Corporation, Philippine Rice Research Institute, Philippine Institute for Development Studies, PPC, People’s Television Network Inc., Subic Bay Metropolitan Authority, Social Housing Finance Corp. and Zamboanga City Special
Economic zone.
So far this year, government subsidies reached P199.6 billion.
The Social Security System (SSS) obtained the highest allocation during the nine month period with P51 billion. It should be noted that SSS was the implementing agency for the P51 billion Small Business Wage Subsidy (SBWS) program.
Launched in April, the SBWS program provided 3.1 million workers in the formal sector employed in micro, small and medium-sized enterprises with P5,000 to P8,000 wage subsidies for the month of April and May. The amount of the subsidies depends on the regions in which the workers work.
In 2019, the government delivered a record P201.52 billion in subsidies.
The subsidies are part of the national government’s disbursement program.
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