Govt grants P3.07B to GOCCs in January, February

The government has extended P3.07 billion in subsidies to state-owned and -controlled corporations (GOCCs) in the first two months of the year, data from the Bureau of Treasury showed.   The amount is double the P1.53 billion given in the same period in 2012.   Of the P3.07 billion, P1.61 billion went to major non-financial government corporations while the balance of P1.46 billion was channeled to other government agencies. In February alone, the government released P2.82 billion in subsidies, nearly three times the P1.09 billion shelled out in the same month a year ago.   On the other hand, in January, the government granted only P247 million in subsidies, 44 percent lower than the P441 million given out a year earlier.   The BTR did not give a breakdown of the amount. It also did not mention the agencies that benefited from it. — KBK, GMA News