Rizal Hall, Malacañang
13 May 2015
President Benigno S. Aquino III received checks from 49 Government Owned or Controlled Corporations (GOCCs) amounting to P36.36 billion during the 2015 GOCC Day held in Malacañang, Manila.
In his message, President Aquino lauded the GOCCs’ impeccable performance that resulted to robust remittances contribution to the national treasury, increasing its dividends to P131.28 billion from the year 2010 to 2015 as compared to the 2001 to 2009 recorded dividends of only P84.18 billion.
“Ang pakiusap ko po: Huwag tayong titigil; huwag tayong makontento sa nagawa na; mag-isip pa tayo ng paraan para ba lalong mapaganda ‘yung iiwan nating biyaya, pakinabang, serbisyo sa taumbayan na siya namang lumikha at talagang tumatangkilik sa atin at sumusuporta sa atin,” he said.
This year, the GOCCs already earned a total of P36.36 billion worth of dividends and remittances from 2013’s P32.31 recorded earnings. The Land Bank of the Philippines (LBP) has the highest dividends and remittances contribution amounting to P6.254 billion while the Philippine Amusement and Gaming Corporation (PAGCOR) has the highest total remittances at P10.137 billion.
Under Republic Act No. 7656, GOCCs are required to declare and remit at least 50% of their income as dividends to the national government.
The event is an annual ceremonial turnover of the GOCCs’ dividends and recognition of their achievements and contributions to the country’s national development.
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