President Aquino on Monday received more than P19 billion from government-owned and -controlled corporations (GOCCs) in the form of dividend checks to the government.
In ceremonies at Malacañang’s Rizal Hall, the President said the dividends remitted were the fruit of administration’s efforts to improve GOCC operations to hew more closely to his administration’s basic principle of good government.
“We removed those who are corrupt, we looked for leaks in funds that go directly to the caprices of a few, and put an end to short-cuts in the transactions of their corporations. What is the result of all this? This year, 21 GOCCs turned over more than P19 billion in dividends to the national government,” the President said.
He said the amount would be spent on education, health care, poverty alleviation, and other basic services.
The President said that the creation of the Governance Commission for GOCCs (GCG) would ensure the “upright and effective management of government corporations,” and expressed confidence that its chairman, Cesar Villanueva, would build on the level of public trust currently being enjoyed by GOCCs.
“To our chairman and commissioners, don’t let your bosses down, the people. We have proved today that we can correct the crooked system,” he said.
Mr. Aquino said his administration’s reform agenda has erased the reputation of GOCCs as a milking cow, and as a reward for administration lackeys.
He cited the Metropolitan Waterworks and Sewerage System (MWSS), which used to grant bonuses “left and right” to its employees, to the extent that it had spent P211.5 million for its employees’ salaries every year.
The President said that with its change in leadership, the MWSS was able to change the process and even managed to contribute P150 million to the government.
“The mandate of the GOCC is clear: It is your duty to focus on the corporations that run on taxpayers’ money, so that the people would benefit from it,” he said.
The President also announced that last year was marked by the “stick” approach in terms of GOCC management so this year would be the implementation of the “carrot” approach to provide incentives to keep GOCC employees from seeking jobs elsewhere.
“Secretary Butch Abad and other Cabinet officials are working on your productivity-incentive bonus. If you do something good, the state will reward you….I think we can speed this up and implement it this year,” he said.
The Land Bank of the Philippines remitted of P5 billion to the government; Development Bank of the Philippines, P4.012-billion; Philippine National Oil Co. and its subsidiary PNOC-Exploration Corp., a total of P3.5 billion; and the Civil Aviation Authority of the Philippines, P1.362 billion.
The Philippine Ports Authority remitted P1.2 billion; Philippine Amusement and Gaming Corp., P1 billion; Manila International Airport Authority, P1.142-billion; Philippine Reclamation Authority, P700 million; Philippine Deposit Insurance Corp., P470 million; and National Home Mortgage Finance Corp., P18 million.
The Cebu Ports Authority remitted P50 million; Clark Development Corporation, P100 million; Philippine Leisure and Retirement Authority, P106.9 million; Trade Investment and Development Corporation, P65 million; Philippine Economic Zone Authority, P276 million; and Bases Conversion Development Authority, P504 million. The Metropolitan Waterworks and Sewerage System remitted P150 million; the National Livelihood Development Corp., P70 million; Mactan-Cebu International Airport Authority, P48 million; and National Housing Authority, P7.3 million.
