By TED CORDERO, GMA News
Published January 1, 2021 12:23pm Government-owned or -controlled corporations (GOCCs) remitted a total of P160.62 billion to the Bureau of the Treasury (BTr) as of December 15, 2020, according to the Department of Finance (DOF). In a statement, the DOF said the GOCCs’ remittances will help fund the government’s continuing efforts to curb the spread of COVID-19 and provide economic relief to pandemic-hit businesses and individuals. Of the P160.62-billion remitted to the Treasury, P133.50 billion represents the cash dividends from 55 GOCCs as mandated under Republic Act (RA) No. 7656 or the Dividends Law. The RA 7656 requires GOCCs to remit at least 50% of their net earnings to the National Government (NG).
Published December 12, 2020, 11:58 AM
The House Committee on Government Enterprises and Privatization has approved two measures seeking to expand the role of the Philippine International Trading Corp. to serve as the government’s stockpile supply chain manager of strategic and critical materials needed in times of national emergency or natural disasters.
In a virtual meeting, the House panel approved the motion of Bataan Rep. Jose Enrique “Joet” Garcia III to approve House Bills 6667 and 6644, principally authored by Aklan Rep. Teodorico Haresco Jr. and Isabela Rep. Alyssa Sheena Tan, respectively.
The measures seek to amend Presidential Decree 252, otherwise known as the PITC Law, as amended by PD 1071, or the law revising the charter of the PITC.