Subsidies for state firms slide in March

SUBSIDIES secured by state-run firms from the national government were smaller in March compared from a year ago, data from the Bureau of the Treasury showed, with the bulk granted to the National Irrigation Administration (NIA).

Twenty-five government-owned and -controlled corporations got a total of P3.83-billion assistance during the month, plunging by 67.88 percent from P11.95 billion in March 2020.

NIA received P2.49 billion during the month. The agency is responsible for irrigation development and management in the country.

The Philippine National Railways came in second by getting P312 million and Small Business Corp. was at third with P200 million.

Also securing assistance in March were the Light Rail Transit Authority, Aurora Pacific Economic Zone and Freeport Authority, Bases Conversion and Development Authority, Cultural Center of the Philippines, Credit Information Corp., Center for International Trade Expositions and Missions, Intercontinental Broadcasting Corp., Lung Center of the Philippines, National Dairy Authority, National Kidney and Transplant Institute, Philippine Coconut Authority, Philippine Center for Economic Development, and Philippine Children’s Medical Center.

Also getting subsidies were the Philippine Heart Center, Philippine Institute for Development Studies, Philippine Institute of Traditional and Alternative Health Care, Philippine Tobacco Administration, People’s Television Network Inc., Subic Bay Southern Philippines Development Authority, Tourism Infrastructure and Enterprise Zone Authority, and Zamboanga City Special Economic Zone Authority.

In the first quarter, government subsidies were reduced by 41.53 percent to P11.41 billion from the year-earlier figure of P19.53 billion.

The NIA recieved the widest allocation during the three-month period with P7.49 billion.

In 2020, the government gave

away a record P230.41 billion in subsidies to 43 governmentowned firms, a 14.33-percent surge from the P201.52 billion in 2019.

Subsidies are part of the national government’s disbursement program.

State spending in February was up by 37.27 percent to P335.5 billion from P244.4 billion a year ago, boosting the year-to-date figure by 18.27 percent to P610.3 billion.