Finance Secretary and Governance Commission for GOCCs (GCG) member Ralph G. Recto received on behalf of the National Treasury PHP 2.49 billion worth of cash dividends from the Clark Development Corporation (CDC) to help fund the national government’s development programs and projects.

The remittance is 38% higher than the CDC’s contribution of PHP 1.80 billion last year.

The CDC operates, administers, manages, and develops the Clark Freeport Zone (CFZ) and Clark Special Economic Zone (CSEZ).

Representing CDC were Chairman Atty. Edgardo D. Pamintuan, President and CEO Atty. Agnes VST Devanadera, and other senior officials.

Secretary Recto was joined by National Treasurer Sharon Almanza and Chief of Staff and Undersecretary Maria Luwalhati Dorotan Tiuseco.