Since
1987, the Philippine Privatization Program has been instrumental
in generating revenues for the government, broadening
of ownership base, fostering favorable investment climate
and institutionalizing of key privatization initiatives
all aimed to streamline the bureaucracy, augment the Government’s
financial resources and create efficiencies in the Government
corporate sector.
The
fiscal surplus in 1994-1997 has been largely due to privatization
related receipts during the period.
Performance
Indicators
|
Revenue
Generated
P202.33
billion since 1987
P1.80
billion for FY2003
|
Remittances
to BTr
P129.74
billion since 1987
P0.57
billion for FY 2003
|
|
Accounts
Disposed
Total
of 491 accounts disposed
74.13%
are non-performing assets transferred to NG by PNB
and DBP
|
Remaining
Portfolio
55
undisposed TAs as of 31 December 2003
30
undisposed GOCCs as of 31 December 2003
|
Notes:
(1) TAs are transferred assets to NG (2) GOCCs refer to
government owned and/or controlled corporations.
Big
Ticket Sales
The
privatization of some government corporations generated
sizeable amount of revenues for the government and are
considered big-ticket transactions.
|
Account
|
Gross
Sales in Billion Pesos
|
|
Petron
Corporation (PETRON)
|
25
|
|
National
Steel Corporation (NATIONAL STEEL)
|
17.1
|
|
Philippine
Airlines (PAL)
|
10.7
|
|
Philippine
National Bank (PNB)
|
7.1
|
|
Philippine
Associated and Smelting Corporation (PASAR)
|
3.2
|
|
Philippine
Phosphate Fertilizer (PHILPHOS)
|
3.0
|
|
International
Bank (INTERBANK)
|
2.2
|
|
Philippine
Shipyard and Engineering Corporation (PHILSECO)
|
2.1
|
|
Marina
Properties (MARINA)
|
1.8
|
|
Philippine
Plaza Hotel (PHILPLAZA)
|
1.5
|
|
Union
Bank of the Philippines (UNION BANK)
|
1.3
|
|
Total
|
75
|
Source
: DOF Privatization Council
