(Eagle News)–The Department of Transportation and its attached agencies have recently turned over P80 billion in dividends and remittances from revenues to the national treasury.
Of the amount, the DOTr said the P50.7 billion represent dividends from 2017 to 2020 and P29.3 billion in remittances from revenues for 2019.
In a statement, the DOTr said of the P50.7 billion, P10.1 billion were from 2017, P12.2 billion from 2018, P11.1 billion from 2019, and P17.3 billion from 2020.
According to the DOTr, based on records from its finance department, the P50.7 billion total dividends were significantly higher than, or almost triple the remitted dividends from 2013 to 2016, which amounted to P17.7 billion.
The amount was apart from the P17.3 billion dividends of state-owned corporations under the DOTr earlier remitted on March 27 and April 7 upon the instructions of Transportation Secretary Arthur Tugade to help support the government’s bid against the coronavirus disease 2019.
Under the law, all government-owned and controlled corporations should remit in full their respective minimum dividends to the treasury on or before May 15 of each year.
“It’s important for us to realize the urgency of turning over in advance our respective dividends. The President has directed his administration to generate funds to help the country cope with the pandemic. And this is our way of showing how eager we are to help by doing our obligations,” Tugade said.
Meanwhile, the DOTr reported of the P29.3 billion in remittances from revenues, the Land Transportation Office contributed P24 billion, DOTr-proper P1 billion, and the Office for Transportation Security P1 billion.
In 2010, P14.9 billion was remitted to the National Treasury; P15.4 billion in 2011; P16.9 billion in 2012; P 19.4 billion in 2013; P23.7 billion in 2014; P25.6 billion in 2015; P26.4 billion in 2016; P26.3 billion in 2017; and P30.7 billion in 2018.
All in all, the DOTr said it turned over P17.3 billion in dividends from its attached GOCCs in 2020 and P29.3 billion in remittances from revenues earned by DOTr agencies, or a total of P46.6 billion to the National Treasury.
“The continuous robust fiscal performance of the Department is a testament to the strong leadership our transportation chief exemplifies. We are relentless with our anti-corruption drive, accountability, and transparency initiatives to maintain good financial status. And the DOTr will continue to do so, especially during these trying times when our country needs funding most,” Transportation Undersecretary for Finance Garry de Guzman said.
