GOCCs Remit ₱105-B As Of July; Landbank, PAGCOR, BSP Top Performers

Government-owned and -controlled corporations (GOCCs) have remitted a total of ₱105 billion to the National Treasury as of July 2025, providing crucial funding for the administration’s public services and development projects, the Department of Finance (DOF) announced.

Land Bank of the Philippines, which remitted ₱26 billion, led the list of top performers. I Photo: Land Bank of the Philippines Facebook

Leading the list of top performers is the Land Bank of the Philippines, which remitted ₱26 billion, followed by the Bangko Sentral ng Pilipinas (BSP) with ₱18.9 billion, the Philippine Amusement and Gaming Corporation (PAGCOR) with ₱12.67 billion, and the Philippine Deposit Insurance Corporation (PDIC) with ₱10.13 billion.

The DOF noted that this total is well above the ₱20 billion remittance outlined in the 2025 Budget of Expenditures and Sources of Financing (BESF), and it has already surpassed the department’s earlier projection of ₱100 billion.

“For dividends, [it’s] ₱90 to ₱110 billion above the target based on the BESF,” Finance Secretary Ralph Recto said in a recent media briefing.

He emphasized that GOCC dividends play a key role in financing the government’s priority expenditures without imposing new taxes on the public.

“These non-tax revenues allow us to support the government’s expenditure program for the year, enabling the DOF to stay on track with its fiscal goals and mobilize funds for our priority programs and projects,” Recto said.

Other top contributors among GOCCs include:

• Power Sector Assets and Liabilities Management Corporation (PSALM) – ₱8.95 billion

• Philippine Ports Authority (PPA) – ₱5.20 billion

• Manila International Airport Authority (MIAA) – ₱3.32 billion

• Clark Development Corporation (CDC) – ₱2.48 billion

• Philippine National Oil Company (PNOC) – ₱2.42 billion

• Bases Conversion and Development Authority (BCDA) – ₱2.20 billion

In addition, around 13 other state-run corporations have each remitted at least ₱1 billion as of July. As of May this year, total GOCC remittances stood at ₱76 billion.

Republic Act No. 7656, or the Dividend Law, requires GOCCs to remit at least 50 percent of their net earnings from the previous year as dividends to the national government. To maximize these non-tax revenues, the DOF earlier urged GOCCs to increase their remittances to 75 percent of net earnings.