3 DOTr agencies advance over P10 billion in dividends to nat’l treasury to help fund PHL fight vs COVID-19

Money from PPA, MIAA, CAAP to be used to fund other gov’t projects, too, DOTr says

(Eagle News)–Three Department of Transportation agencies have remitted in advance over P10 billion in dividends to the national government to help the country fight the coronavirus disease 2019.

In a statement, the DOTr said the over P10 billion, which shall be used in other government projects, represents the total dividends of the Philippine Ports Authority, Civil Aviation Authority of the Philippines and the Manila International Airport Authority for calendar year 2019.

PPA in particular remitted in advance over P4 billion; CAAP, P3 billion; and the MIAA, P3 billion.

Under the law, all government-owned and -controlled Corporations (GOCCs) are mandated to remit in full their respective minimum dividends to the National Treasury on or before  May 15 of each year.

Transportation Secretary Arthur Tugade lauded the 3 agencies for their efforts in keeping a good financial performance for the past four years.

“This only goes to show that with good leadership, especially with anti-corruption practices espoused by President Rodrigo Roa Duterte, it is the people that will ultimately benefit. These remittances are the people’s money and we are giving it back at the soonest possible time when it is very much needed with urgency. Napapanahon at nararapat lamang na pakinabangan ito ng mga taumbayan lalo sa panahon ng pagsubok na ito,”  Tugade said.

In 2017, the three agencies were included in the list among GOCCS with the highest amount of dividends remitted to the National Treasury.

Since 2016, the DOTr said PPA has remitted a total of P12.6 billion in dividends: P1.9 billion for 2016, P3.1 billion for 2017, P3.5 billion for 2018, and P4 billion for 2019.

As for CAAP, the agency has remitted a total of over P18 billion since 2016: P5.3 billion for 2016; P6.2 billion for 2017, and P3.5 billion for 2018, and P3 billion for 2019.

MIAA, for its part, has remitted a total of P10.9 billion in dividends since 2016: P2.2 billion for 2016, P2.2 billion for 2017, P3.4 billion for 2018, and P3 billion for 2019.

The three agencies have remitted to the National Treasury a total of P41.6 billion in dividends since 2016.