DOTr remits P19.3 billion for COVID measures

MANILA, Philippines — The Department of Transportation (DOTr) continues to beef up its contribution to the national coffers as it turned over a total of P19.3 billion in dividends so far this year.

The amount has been remitted in advance to support government spending measures amid the coronavirus disease 2019 or COVID-19 crisis.

Transportation Secretary Arthur Tugade said the dividends would help boost the country’s fund to contain the spread of COVID-19 and to supplement spending on various government projects.

“It’s important for us to realize the urgency of turning over in advance our respective dividends. The President has directed his administration to generate funds to help the country cope with the pandemic. And this is our way of showing how eager we are to help by doing our obligations,” Tugade said.

Under the law, all government owned and controlled corporations are mandated to remit in full their respective minimum dividends to the Treasury on or before May 15 of each year.

The P19.3 billion in dividends remitted to the Bureau of the Treasury came from the earnings of eight state-owned corporations of the DOTr.

They include the Civil Aviation Authority of the Philippines which remitted P6 billion, Manila International Airport Authority which remitted P6 billion, Philippine Ports Authority with P5 billion, and Light Rail Transit Authority with P1 billion.

The other DOTr-attached agencies were Cebu Ports Authority which turned over P500 million in dividends, Mactan-Cebu International Airports Authority with P500 million, North Luzon Railways Corp. with P140 million, and Clark International Airport Corp. with P130 million.

“The continuous robust fiscal performance of the department is a testament to the strong leadership our transportation chief exemplifies. We are relentless with our anti-corruption drive, accountability, and transparency initiatives to maintain good financial status. And the DOTr will continue to do so, especially during these trying times when our country needs funding most,” DOTr undersecretary for finance Garry de Guzman said.