The Department of Budget and Management (DBM) on Wednesday announced the release of P15.9 billion derived from the remittance of government-owned and -controlled corporations (GOCCs) to support housing initiatives in Yolanda-affected areas in the Visayas.
Budget Secretary Florencio B. Abad said the amount is part of the total P36.9-billion funds remitted by the GOCCs to the national government.
“The revenue windfall from our GOCCs will allow us to devote more funds to our most urgent social-welfare programs. This includes our continuing rehabilitation activities in areas affected by Supertyphoon Yolanda. Thanks to the growing efficiency of our GOCCs, we now have more funding room for shelter and housing projects that will help Yolanda-stricken communities,” Abad said in a statement released on Tuesday.
He said the bulk of the P15.9 billion fund, amounting to P11.6 billion, will be allotted for the Emergency Shelter Assistance being handled by the Department of Social Welfare and Development.
At the same time, the remaining P4.31 billion was released to the National Housing Authority for the construction of permanent-housing projects in areas devastated by the typhoon. The beneficiaries of the housing assistance are families with no permanent source of income or whose income falls below the poverty thresholds of their respective regions.
The program provides an individual family of P30,000 cash assistance if their houses were totally destroyed and P10,000 if their homes were partially damaged, or if individuals or families sharing or renting the home are deemed to require assistance.
“We have always stressed that good governance is good economics. In this case, prudent financial management on the part of our GOCCs has allowed us to make a real and positive impact on the lives of Filipinos who are most in need of assistance,” Abad said.
The budget chief said the P36.9 billion in GOCC remittances exceeded the P5.5-billion growth target for 2015, and is P4.6 billion higher than remittances recorded last year.
Besides the GOCC revenues, the Philippine Amusement and Gaming Corp. remitted P10.1 billion to the National Treasury. The Land Bank of the Philippines and the Bases Conversion and Development Authority also contributed significantly to the surplus, with remittances of P6.3 billion and P3.2 billion, respectively.
The Development Bank of the Philippines, meanwhile, remitted P3.1 billion.