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Mar 23, 2018 @ 18:04

PMO remits P17.4M in January


Idle assets owned by the government are reaping good gains.

The Privatization and Management Office (PMO) said it has remitted P17.4 million to the national government, representing income drawn from state-owned properties in January 2018.

The unit of the Department of Finance said the money came from proceeds of the sale and lease rentals of state properties under their watch.

Of this amount, P11.3 million came from the sale of government properties and other assets, P6.1 million from lease rentals, and P17.6 million from receivables under the Comprehensive Agrarian Reform Program), according to chief privatization officer Gerard Chan.

In October 2017, the PMO turned over a check worth P289.5 million to the government as cash dividends.

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