GOCC subsidies nearly double

MANILA, Philippines - Subsidies to government-owned and controlled corporations (GOCCs) nearly doubled in the first nine months of the year, rising to P35.4 billion from P18.47 billion in the same period a year ago.

Based on data from the Department of Finance, the biggest beneficiary of state subsidies was Philippine Health Insurance Corp. with P11.97 billion or more than one-third of total spending on subsidies.  The amount was used to provide health care services to more than 10 million indigent families across the country.

Last June, President Aquino signed the amended National Health Insurance Act of 1995, aimed at ensuring that all Filipinos, especially the needy,  will get health insurance coverage  from PhilHealth.

The four  other top beneficiaries were the National Housing Authority (P8.25 billion), National Electrification Authority (P4.28 billion), National  Food Authority (P2 billion) and the Philippine Deposit Insurance Corp. (P1.517 billion).

In September alone, the government extended P1.64 billion in subsidies to state-owned firms, 47 percent lower than the P3.096 billion released the same month last year.

The Aquino administration continues to provide refuge to informal settler families living in danger or high-risk areas.  It has directed the Department of Interior and Local Government to spearhead the transfer of informal settlers to safer grounds.

The NHA is building 10 resident projects that will make available a total of 6,426 units to some 18,000 squatter families living in six priority waterways to be cleared this year.

Aside from this, the National Government has been subsidizing rice imports through exemption from duties and taxes.