Finance Secretary Ralph G. Recto has vowed that the Power Sector Assets and Liabilities Management (PSALM) Corporation’s all-time high dividend remittance of PHP 8.96 billion to the National Treasury will be reinvested into programs that directly uplift the lives of the Filipino people.
“We will make sure every peso you contribute will be felt by the people. It will be used for programs that matter most. It will be invested back into the nation,” Secretary Recto said during the turnover ceremony on June 30, 2025.
The dividend remittance is in line with President Ferdinand R. Marcos, Jr.’s directive to uphold fiscal discipline among government-owned or -controlled corporations (GOCCs), ensuring that the government maximizes non-tax revenues to fund priority programs without the need to impose new taxes on the people.
“Malaking halaga po ang 8.96 bilyon na natanggap natin mula sa PSALM. But its real value will multiply once it enters the bloodstream of public service—once it becomes more classrooms, hospitals, and roads,” Secretary Recto stressed.
Under Republic Act No. 7656 or the Dividend Law, Government -Owned or -Controlled Corporations (GOCCs) are required to remit at least 50% of their net earnings during the preceding year as dividends to the national government.
To maximize non-tax revenue, the Department of Finance (DOF) has requested GOCCs to increase this share to 75%.
PSALM plays a crucial role in transforming the country’s energy sector into a modern, inclusive, and competitive industry. Its mandate includes the orderly sale and privatization of National Power Corporation (NPC) generation assets and real estate, the management of Independent Power Producer (IPP) contracts, and the liquidation of NPC’s financial obligations in an optimal manner.
“PSALM’s remittance of 8.96 billion in dividends to the National Government reflects the Corporation’s strong financial performance for the fiscal year 2024 and its dedication to good fiscal management. We hope that this remittance will boost the financial support to the nation-building programs of the National Government,” PSALM President and CEO Dennis Edward Dela Serna said.
In his message, the Finance Chief recognized the Corporation’s key role in nation-building, commending them for managing the country’s power assets to ensure that they generate long-term value for Filipinos.
“You do the heavy lifting that many don’t see, from preparing power assets for privatization, guarding the integrity of every bid, and sealing the deals that keep powering the engines of our economy,” he said.
“Every successful privatization done properly means less burden on the taxpayers. And every power plant handed to capable hands means brighter homes, powered schools, and new life to our rural communities,” Secretary Recto added.
He also recognized the Department of Finance’s Corporate Sector and Strategic Infrastructure Group (CSSIG) for ensuring that GOCCs remain productive, efficient, and fiscally sound.
“For this is what nation-building should look like. Bawat ahensya may ambag. Bawat piso may saysay. Bawat tagumpay ay ibinabalik sa taumbayan,” the Finance Chief said.
