SIXTY-THREE government-owned  or controlled corporations (GOCCs) have remitted a total of P160.62 billion to the Bureau of the Treasury (BTr) as of December 15 this year to help fund the government’s continuing response to the Covid-19 crisis and provide economic relief to pandemic-hit businesses and individuals, the Department of Finance (DOF) said.

In a firm commitment to support the national government to respond to the COVID-19 crisis and provide economic relief to the pandemic-hit businesses and individuals, SHFC has remitted P111.70 million in dividends to the Bureau of the Treasury as of December 15.

GOCCs remit P160.62 billion to BTr

SIXTY-THREE government-owned  or controlled corporations (GOCCs) have remitted a total of P160.62 billion to the Bureau of the Treasury (BTr) as of December 15 this year to help fund the government’s continuing response to the Covid-19 crisis and provide economic relief to pandemic-hit businesses and individuals, the Department of Finance (DOF) said on Wednesday. 

Of this amount, P133.50 billion represents the cash dividends from 55 GOCCs as mandated under Republic Act (RA) 7656.  Otherwise known as the Dividends Law, RA 7656 requires GOCCs to remit at least 50 percent of their net earnings to the National Government (NG). READ MORE