GOCCs remit P29-B revenues to Aquino 01/29/2011

GOCCs remit P29-B revenues to Aquino

01/29/2011
A total of P29.25 billion was remitted by 19 government-owned and -controlled corporations (GOCCs) to the national government.

According to President Aquino, who received the checks in a ceremony held at Malacañang yesterday, the dividends and other remittances will be given back to the people in the form of social of services, including anti-poverty programs.

“As you can see, we are working overtime to bolster our abilities to give back to the Filipino people what they have given us,” the President said. “We will do this, not only because this is what we are mandated to do, but more importantly, because this is the right thing to do.”

In his message at the ceremonial turnover of GOCCs check dividends and remittances at the Rizal Hall of Malacañang, the Chief Executive said dividends and other remittances from GOCCs will allow the government to frontload its expenditures and speed up the implementation of anti-poverty programs, among others..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/headlines/20110129hed6.html