3 Transpo GOCCs Transmit P6-B Dividends to Government

Wazzup Pilipinas!

Three state-owned agencies under the Department of Transportation were among the top corporations to transmit the highest dividends to government coffers in May.

The Manila International Airport Authority remitted PHP2.26 billion, Civil Aviation Authority of the Philippines remitted PHP1.98 billion, and the Philippine Ports Authority remitted PHP1.95 billion worth of dividends.

The three Government-Owned and Controlled Corporations (GOCCs) are among the top 5 state-owned companies to remit the highest dividends to the National Treasury, making up the bulk of the total PHP14.02-billion turned over to the government for 2016. The figure is around seven times higher than 2015 remitted dividends.

Transportation Secretary Arthur Tugade instructed CAAP to remit under his term, after not turning over PHP6.31 billion worth of dividends to the National Treasury from 2011 - 2015.

Other transportation agencies among the top GOCCs to remit dividends are the Cebu Port Authority (PHP295-million) and the Mactan Cebu International Airport Authority (PHP170-million).

In a bid to enhance transparency and increase revenue, the Department of Finance earlier revised the Implementing Rules and Regulations (IRR) of Republic Act 7656 or the Dividend Law. Under the new IRR, corporate income tax returns filed with the Bureau of Internal Revenue will be used for the dividend computation.

The transparency measure is consistent with Secretary Tugade's anti-corruption efforts. He also directed revenue-generating agencies under the DOTr to improve collection in order to contribute to government funds.

“We are not just a policy-making agency. We are also generating revenue contributing to the National Treasury in order to help fund projects and programs of the administration. Kaya ang bilin ko sa GOCCs, sundin niyo ang batas at ibigay ang tama at nararapat sa gobyerno,” Tugade said.

Transportation Heads of Philippines and Germany Sign Accord on Cooperation in Maritime Transport

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Department of Transportation (DOTr) Secretary Arthur Tugade and the German Federal Ministry of Transportation and Infrastructure (BMVI) State Secretary Michael Odenwald signed today the Letter of Intent (LOI) on Cooperation in Maritime Transport between the Philippines and Germany.

The LOI aims to further strengthen the existing friendly ties between the Philippines and Germany in the field of maritime transport, through the expansion of activities to promote cooperation such as: conducting regular talks to discuss proposals; the development and implementation of certain projects of mutual interest; the organization of training courses in the field of business and maritime transport; exchange of information concerning the investigation of marine accidents; cooperation in marine pollution prevention; cooperation in the field of ports and maritime equipment, research, training, and staff development in the field of maritime transport.

“[This Letter of Intent] will firm the maritime relationship between the Republic of Germany and the Philippines. This document has been pending for a number of years and after that, lo and behold after barely three months we will sign the letter of intent,” DOTr Secretary Tugade said.

Earlier this year, the two leaders met in Germany where they had initial discussions on prospects and possibilities “to develop and implement projects of mutual interests, specifically in the fields of maritime, aviation, road transport, among others”.

Cusi: Let's Get Energy Projects Moving

Wazzup Pilipinas!

The Department of Energy (DOE) today emphasized the need to streamline regulatory processes for energy projects to speed up the provision of stable and affordable energy throughout the country.

Upon his assumption as Energy Chief, Secretary Alfonso G. Cusi has been strongly pushing for a sound policy that will ensure energy projects are carried out on time.

Supporting this call, President Rodrigo Duterte issued on 30 June 2017 Executive Order (EO) No. 30, creating an Energy Investment Coordinating Council (EICC) led by the DOE that will spearhead and coordinate national government efforts to harmonize, integrate and streamline regulatory processes, requirements and forms relevant to the development of energy investments in the country.

The Council will maintain a database of information and a web-based monitoring system for information exchange and updates to uphold transparency and accountability.

“The Council will guide the various agencies in speeding up their regulatory processes for the fast realization of energy projects to be tagged as "Projects of National Significance’ under the Philippine Energy Plan (PEP)," Cusi explained.

“The PEP sets the vision for our energy affairs in order to deliver the objectives of Dutertenomics, particularly in identifying energy projects that need to be built and constructed on schedule,” Cusi pointed out.

Cusi further emphasized, “The longer the processing of energy projects gets, the more expensive it becomes, which could also impact on the delivery of energy services and their affordability.”

The EO provides that government agencies concerned with energy projects should presume other agencies were able to act upon and issue their respective permits within a 30-day period.

“Given that energy investors have complete requirements, cutting down the period of issuance of permits will certainly speed up the realization of energy projects,” Cusi assessed.

The EICC will be chaired by the DOE and shall be composed of representatives from various national government agencies and relevant energy institutions (e.g., Department of Environment and Natural Resources, Department of Finance, Department of Justice, Department of Transportation, National Electrification Administration, National Grid Corp. of the Philippines, National Power Corp., National Transmission Corp., Housing and Land Use Regulatory Board, Palawan Council for Sustainable Development and other relevant government agencies).