Tuesday 19 February
Apr 16, 2018 @ 18:50

DOTr hands over P11B dividends to gov’t


Half of the funds came from penalties paid by Philippine Airlines.

Finance Secretary Carlos Dominguez III happily received checks from three agencies under the watch of Transportation Secretary Arthur Tugade.

Dominguez received checks totaling P11.33 billion on behalf of the Bureau of the Treasury. The amount represents dividends from the Manila International Airport Authority worth P2.01 billion; the Civil Aviation Authority of the Philippines (CAAP), P6.22 billion; and the Philippine Ports Authority, P3.1 billion from their 2017 operations.

“I always tell our revenue-generating agencies to improve their collection. This is our way of contributing to the government, especially as we usher in the Golden Age of Philippine Infrastructure,” Tugade said.

CAAP was able to collect nearly P6 billion from Philippine Airlines in October last year, after President Duterte ordered the DOTr not to extend the deadline it had given to the flag carrier to pay its long-overdue navigational fees and other charges.

Now there’s more money for the government to spend.

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