GOCCs remit P32B to nat’l coffers; Landbank tops with P6.2B

President Benigno Aquino III on Thursday credited his administration's policy on good governance as Government-Owned and Controlled Corporations continued to yield huge returns, turning over to the country's coffers P32.31 billion in dividends this year.

 

In his speech, Aquino said GOCCs have remitted a total of P95.38 billion in just three and a half years of his administration compared to the P81.54 million that the corporations remitted in eight years of the Arroyo government from 2002 to 2010.

 

“Ibig pong sabihin nito, para mas maliwanag, ang average po nila, P9.06 bilyon sa loob ng siyam na taon ay natabunan na natin ng average na P27.25 bilyon sa ating tatlo at kalahating taon. Ang tanong nga po ngayon, kung kaya pala itong gawin ng mga GOCC, bakit hindi nagawa noon?” he said during the 2014 GOCC Dividends Day.

 

Land Bank of the Philippines (LBP) had the highest dividends remitted with P6.298 billion while Philippine Amusement and Gaming Corporation (PAGCOR) had the highest total remittances at P9.791 billion.

 

Seven GOCCs were included in the elite class of contributors, or the so called “Billionaires’ Club,” that have declared P1 billion or more in dividends. These were:

 

-Development Bank of the Philippines (DBP) with P3.616 billion;

-Power Sector Assets & Liabilities Management Corporation (PSALM) with P2.5 billion;

-Bases Conversion Development Authority (BCDA) with P2.107 billion;

-Manila International Airport Authority (MIAA) with P1.577 billion;

-Philippine National Oil Company-Exploration Corporation (PNOC-EC) with P1.5 billion;

-Philippine Ports Authority (PPA) with P1.422 billion; and

-Philippine Deposit Insurance Corporation (PDIC) with P1.05 billion.

 

GOCCs are required to declare and remit at least half of their income as dividends to the National Government under R.A. No. 7656.

 

Governance Commission for GOCCs (GCG), the central advisory body that monitors and oversees the GOCC sector, said that the number of GOCCs that have declared dividends increased from 38 in 2012 to 50 in 2013.

 

Aquino said GOCCs being used by some people to enrich themselves and their allies is now a thing of the past.

 

“Tapos na ang panahon kung kailan ang mga GOCC ay ginamit ng iilan para pakapalin ang sariling bulsa; kung saan ang mga GOCC ay ginawang tambayan at parking space ng mga kabarkada at alipores ng iilang makapangyarihan. Nagpatupad tayo ng reporma, at habang umuusad ang panahon, lalo nating pinagtitibay ito; lalo nating ginagawang masigasig ang pagtatrabaho tungo sa pagbabago; at lalong nagiging imposible na bumalik pa sa dating sistema,” he said.

 

He said when his administration started, those who plundered and pocketed the funds of GOCCs were his biggest critics and sowed intrigues to show that reform is not possible.

 

“Sa araw na ito, malinaw na malinaw: Hindi tayo katulad nila. Tingnan na lamang po natin ang kabuuang halaga ng dibidendong nailagak natin sa kaban ng bayan mula nang maisabatas ang ating GOCC Governance Act of 2011,” Aquino said.

 

“Sa tapat na pamamahala, mas marami tayong pondo para sa makabuluhang programa at serbisyo sa mamamayang Pilipino; natitiyak nating bawat pisong kinikita ng pamahalaan ay napupunta sa pagsusulong ng kapakanan ng ating mga kababayan,” he added.

 

He said among the reforms initiated were the abolition of non-performing GOCCs and giving initiatives to deserving employees.

 

Aquino also said an Integrated Corporate Reporting System is being formed for a more open and transparent governance.

 

“Dito po ilalagak ang mga impormasyon ukol sa gawain ng ating mga GOCC. Sa inisyatibang ito, mas mapapahusay ang ugnayan ng ating mga ahensya at korporasyon ng gobyerno. Kapag nakumpleto na ito, maaaring bisitahin ng ating mga kababayan ang kanilang website ano mang oras. At ito ang magbibigay sa kanila ng higit na kakayahan upang makilahok sa mabuting pamamahala,” he said.