Press Release: AMID THE PANDEMIC, PPA REMITS BILLIONS IN DIVIDENDS TO THE NATIONAL TREASURY; SETS EXAMPLE FOR OTHER GOCCs
Department of Finance (DOF) Secretary Carlos Dominguez III expressed his commendation to the Philippine Ports Authority (PPA), under the leadership of General Manager Jay Santiago, for setting a good example among government-owned and -controlled corporations (GOCCs) on providing utmost support for the country’s COVID-19 response.
Amid the unprecedented challenges of the current pandemic, the PPA was able to remit P3.541 billion in dividends to the Bureau of Treasury (BTr) for 2020.
The PPA’s dividend contribution represents 56 percent of its 2020 net income after tax of P6.138 billion.
Secretary Dominguez likewise conveyed his utmost gratitude to Department of Transportation (DOTr) Secretary Arthur Tugade, in making sure that the GOCCs under his supervision, such as the PPA, are strictly conforming with the Dividend Law, and that they play their role in contributing to the national government’s coffers to fund initiatives that will alleviate the impact of the pandemic, as well as provide for other government development programs for the people.
Since the start of the Duterte administration, the PPA has been a consistent top-performing agency of the DOTr, remitting a total of P17.17 billion in dividends to assist the government in the implementation of its priority programs.
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