PPA, MIAA, CAAP ordered to remit P10 billion dividends

MANILA, Philippines — Transportation Secretary Arthur Tugade has ordered three attached agencies of his department to remit to the national coffers in advance their respective dividends amounting to P10 billion to support the government’s initiatives against the pandemic.

Tugade ordered Philippine Ports Authority (PPA), the Manila International Airport Authority (MIAA) and the Civil Aviation Authority of the Philippines (CAAP) to remit the amount to the Department of Finance (DOF) by Friday.

“We are now engaged in a war against COVID-19 and the government needs to muster every financial support it can get to contain and eliminate this deadly disease,” Tugade said.

According to the transport chief, the dividends to be remitted by the three DOTr agencies would help in funding the government’s campaign against COVID-19 as well as other government projects.

The PPA is set to remit P4 billion in dividends to the DOF, while MIAA and CAAP will remit P3 billion each.

The PPA is responsible for financing, management and operations of public ports throughout the country. It operates over 110 seaports nationwide.

CAAP, which manages over 40 airports across the country, is in charge of implementing policies on civil aviation in order to ensure safe, economical, and efficient air travel.

MIAA manages the Ninoy Aquino International Airport, the country’s main international gateway.

Normally, the DOTr said these agencies remit their dividends every 15th of May, but they are now ordered to directly issue the dividend checks to the DOF by Friday.

“We at the DOTr are throwing our support to this effort and to make sure that we as a country survives to see victory in this war against an invisible but very dangerous enemy,” Tugade said.