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GOCC subsidies slashed by 50 percent in September
Subsidies for government-owned and -controlled corporations (GOCCs) decreased by nearly 50% in September compared to the same period last year, totaling P9.2 billion.
The National Food Authority (NFA) received the largest subsidy in September, amounting to P3.43 billion.
The National Irrigation Administration (NIA) followed with P3.23 billion.
Other GOCCs receiving substantial subsidies included the Philippine Fisheries Development Authority (PFDA) with P955 million, the Light Rail Transit Authority with P74 million, and the Philippine National Railways with P63 million.
Subsidies for other government corporations plummeted by 77.6 percent, settling at P2.39 billion from P10.66 billion recorded in the same period last year.
No subsidies were given to the National Housing Authority, the National Electrification Administration, and the National Power Corp. during the period.
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