Government-owned and controlled corporation

From Wikipedia, the free encyclopedia

A Government-owned and controlled corporation (GOCC), sometimes with an "and/or",[1] is a term in
the Philippines used to describe government-owned corporations that conduct both commercial and noncommercial activity. Examples of the latter would be the Government Service Insurance System, a social
security system for government employees. There are over 200 GOCCs.[2] GOCCs both receive subsidies
and pay dividends to the national government.
Under the GOCC Governance Act (Republic Act 10149; Government Owned and Controlled Corporations
(GOCC) Governance Act of 2011), GOCCs are overseen by the Governance Commission for
Government-Owned and -Controlled Corporation (GOC).[3] The Governance Commission is the
"governments central advisory and oversight body over the public corporate sector" according to the Official
Gazette of the Philippine government.[4] The Governance Commission among other duties prepares for
the President of the Philippines a shortlist of candidates for appointment by the president to GOCC boards.[3]
Many but not all GOCCs have their own charter or law outlining its responsibilities and governance.[5]

Contents
[hide]

1Finances
2List of Government-owned and controlled corporation
3See also
4References
5External links

Finances[edit]

2014 operation subsidies and program funds that GOCCs received from the national government
GOCCs receive from the government "subsidies" and "program funds".[6] Subsidies cover the day-to-day
operations of the GOCCs when revenues are insufficient while program funds are given to profitable GOCCs
to pay for a specific program or project.[6]
Subsidies from the National Government in 2011 amounted to 21 billion Philippine pesos.[7] In the 2013 fiscal
year, the national government gave P71.9 billion pesos to GOCCs in subsidies, nearly twice the 44.7 billion
pesos that was programmed in the budget.[2] In 2014, 77.04 billion pesos was spent on GOCCs by the
national government, 3% of which was classified as subsidies and 97% was classified as program funds.[6]
In 2013, on "GOCC Dividend Day", the Philippine government received 28-billion Philippine pesos in
dividends and other forms of remittances from the 2012 operations of 38 GOCCs.[8] Eight GOCCs remitted 1
billion pesos each: Philippine Reclamation Authority (PRA)(P1 billion pesos), Philippine Ports
Authority (PPA)(1.03-billion),Manila International Airport Authority (MIAA)(P1.54-billion), Philippine
Amusement and Gaming Corporation(PAGCOR) (P7.18-billion), Power Sector Assets and Liabilities
Management Corporation (PSALM)(P2-billion),Bases Conversion Development Authority (BCDA)(P2.30billion), Development Bank of the Philippines (DBP) (P3.16-billion) and Land Bank of the Philippines (LBP)
(P6.24-billion). Under Republic Act No. 7656, all GOCCs are required to declare and remit at least 50% of
their annual net earnings as cash, stock or property dividends to the National
Government."[8] The Commission on Audit reports that in 2013 of the 219 profitable GOCCs, only 45 remitted
a full 50% share of their dividends to the national treasury, leaving 174 others with unremitted government
shares, amounting to more than P50 billion.[2] Dividends remitted were only one-tenth (1/10) of the total
required by law according to the Commission.[2]

In 2014, on "GOCC Dividend Day", the Philippine government received 32.31 billion Philippine pesos worth
of dividends and other remittances from 50 GOCCs.[9] Seven GOCCs submitted over a billion pesos
each: Development Bank of the Philippines (DBP) with P3.616 billion;Power Sector Assets and Liabilities
Management Corporation (PSALM) with P2.5 billion; Bases Conversion Development Authority (BCDA) with
P2.107 billion; Manila International Airport Authority (MIAA) with P1.577 billion; Philippine National Oil
Company-Exploration Corporation (PNOC-EC) with P1.5 billion; Philippine Ports Authority (PPA) with P1.422
billion; and Philippine Deposit Insurance Corporation (PDIC) with P1.05 billion.[9]

List of Government-owned and controlled corporation[edit]

See also: Category:Government-owned and controlled corporations
There are over 200 GOCCs.[2] Below is a partial list of GOCCs:[7][10]
This list is incomplete; you can help by expanding it.

Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP)

Aurora Pacific Economic Zone and Freeport Authority
Authority of the Freeport of Bataan
Bases Conversion and Development Authority (BCDA)
Cagayan Economic Zone Authority
Cebu Ports Authority
Center for International Trade Expositions and Missions (CITEM)
Central Bank-Board of Liquidators
Civil Aviation Authority of the Philippines (CAAP)
Clark International Airport Corporation (CIAC)
Cottage Industry Technology Center (CITC)
Credit Information Corporation
Cultural Center of the Philippines (CCP)
Development Academy of the Philippines (DAP)
Development Bank of the Philippines (DBP)
Duty Free Philippines Corporation
Employees Compensation Commission (ECC)
Fiber Industry Development Authority (FIDA)
Government Service Insurance System (GSIS)
Home Development Mutual Fund (HDMF)
Home Guaranty Corporation (HGC)
Human Settlements Development Corporation
Instructional Materials Corporation
Laguna Lake Development Authority (LLDA)
Land Bank of the Philippines (LBP)
Light Rail Transit Authority (LRTA)
Local Water Utilities Administration (LWUA)
Lung Center of the Philippines
Mactan-Cebu International Airport Authority
Manila International Airport Authority (MIAA), runs the Ninoy Aquino International Airport
Masaganang Sakahan, Inc (MSI)
Metro Manila Transit Corporation (MMTC)
Metropolitan Waterworks and Sewerage System-Corporate Office
Metropolitan Waterworks and Sewerage System-Regulatory
National Dairy Authority
National Development Authority (NDC)

National Electrification Administration

National Food Authority (NFA)
National Home Mortgage Finance Corporation
National Housing Authority (NHA)
National Irrigation Administration (NIA)
National Kidney and Transplant Institute
National Livelihood Development Corporation (NLDC)
National Power Corporation (NPC)
National Research Council of the Philippines (NRCP)
National Tobacco Administration (NTA)
National Transmission Corporation (TransCo)
Natural Resources Development Corporation
Nayong Pilipino Foundation, Inc
North Luzon Railways Corporation
Occupational Safety and Health Center
Partido Development Administration
People's Credit and Finance Corporation
Panay Railways
People's Television Network (PTV)
Philippine Aerospace Development Corporation (PADC)
Philippine Amusement and Gaming Corporation (PAGCOR)
Philippine Center for Economic Development
Philippine Charity Sweepstakes Office (PCSO)
Philippine Children's Medical Center
Philippine Coconut Authority
Philippine Cotton Corporation
Philippine Crop Insurance Corporation (PCIC)
Philippine Dairy Corporation (PDC)
Philippine Deposit Insurance Corporation (PDIC)
Philippine Economic Zone Authority (PEZA)
Philippine Export and Foreign Loan Guarantee Corporation
Philippine Fisheries Development Authority (PFDA)
Philippine Health Insurance Corporation (PhilHealth)
Philippine Heart Center (PHC)
Philippine Institute for Development Studies (PIDS)
Philippine Institute of Traditional and Alternative Health Care
Philippine International Trading Corporation (PITC)
Philippine Mining Development Corporation (PMDC)
Philippine National Oil Company (PNOC)
Philippine National Railways (PNR)
Philippine Phosphate Fertilizer Corporation (PHILPOS)
Philippine Ports Authority (PPA)
Philippine Postal Corporation (PHLPost)
Philippine Reclamation Authority
Philippine Retirement Authority
Philippine Rice Research Institute (IRRI)
Philippine Statistics Authority (PSA)
Philippine Sugar Corporation

Philippine Veterans Investment Development Corporation (PHIVIDEC) Industrial Authority

Power Sector Assets and Liabilities Management Corporation
Quedan and Rural Credit Guarantee Corporation (Quedancor)
Securities and Exchange Commission (SEC)
Small Business Corporation
Social Security System (SSS)
Southern Philippines Development Authority
Sugar Regulatory Administration (SRA)
Technology Resource Center (TRC)
Tourism Infrastructure and Enterprise Zone Authority (TIEZA), formerly known as Philippine
Tourism Authority (PTA)
Tourism Promotions Board
Trade Investment Development Corporation of the Philippines
Zamboanga City Special Economic Zone Authority