Finance Secretary Ralph Recto delivered this message during the 2025 GOCCs Day, insisting that “our GOCCs are not government-owned, you are people-owned.”
GOCCs are major contributors to public funds via dividends, helping the national government finance priority programs without raising taxes. As of Sept.12, they have remitted P109 billion, with projections to hit P117 billion by year-end.
Raising the bar
The Department of Finance (DOF) is pushing for a higher remittance rate under Republic Act No. 7656. While the law mandates 50 percent of net earnings, the government wants GOCCs to remit 75 percent, arguing heightened returns benefit citizens.
Examples & accountability
Among the biggest contributors: Landbank (P33.5 billion),the Bangko Sentral ng Pilipinas (P18.9 billion), Pagcor (P12.7 billion), PDIC (P10.1 billion), Power Sector Assets and Liabilities Management Corp. (P9 billion); the Bases Conversion and Development Authority (P5.3 billion); the Philippine Ports Authority (P5.2 billion); the Manila International Airport Authority (P3.3 billion); Clark Development Corp. (P2.5 billion); and Philippine National Oil Co. (P 2.4 billion).
Recto and President Ferdinand Marcos Jr. stressed that collecting these dividends is not enough—how the funds are spent must be transparent, accountable, and always focused on the welfare of Filipinos.
Bottom line
Calling on GOCCs to move beyond compliance, the DOF insists that integrity, Filipino values, and public trust be embedded in every service, policy, and peso spent. “Integrity must not just be preached, it must be lived daily.” —Ed: Vanessa Hidalgo
