Government to slash GOCC subsidies

MANILA, Philippines — The Aquino administration is looking at slashing its subsidies to government owned and controlled corporations (GOCCs) next year by almost half of this year’s programmed budget. Data from the Department of Finance showed that the government will likely set aside only P11.232 billion for subsidies to state-owned companies in 2012, significantly lower by 45 percent compared ...

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Source: Manila Bulletin

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