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Nov 29, 2017 @ 18:30

Privatization yields over P500M

 

Idle assets sold by the government brought in half a billion pesos.

State-owned properties sold by the Privatization and Management Office (PMO) raised P554.4 million in one-time gains, the Department of Finance said in a statement.

The PMO has since remitted the amount to the Bureau of the Treasury, which represents the amount they raised from January to September 2017.

Some P289.5 million has been turned over to the government in October coming from the sale of shares in Asean Finance Corporation as well a special cash dividend from Semirara Mining Corporation.

More money means more projects funded.

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