The National Electrification Administration (NEA) has remitted a total of P43,058,291.62 in dividends to the national government, which the Department of Finance (DOF) acknowledged on Monday during the 2024 Government-Owned or -Controlled Corporations (GOCC) Day.

NEA Administrator Antonio Mariano Almeda accepted the Certificate of Recognition signed by Finance Secretary Ralph Recto in a ceremony held at the Philippine International Convention Center (PICC) in Pasay City with President Ferdinand Marcos, Jr. and Executive Secretary Lucas Bersamin in attendance. 

In his speech, President Marcos recognized the people who keep the GOCCs running for their invaluable contributions to his “Bagong Pilipinas” governance agenda. According to DOF, 47 state-owned corporations have so far transmitted P88.6-billion to the national government as of May 6, 2024.

“These dividends form a major source of non-tax revenues for the government, making possible our goal of raising funds without the need to impose additional taxes on our people,” Recto said in his remarks at the GOCC Day.

“Since those dividends also come from the people, let me assure you, that they will be carefully spent like the precious taxes that come from the sweat of their brow. It will be plowed back to them through projects and programs that will improve their lives,” President Marcos noted for his part.

Administrator Almeda thanked both the DOF and the President for the recognition. Since assuming office in 2022, the incumbent NEA chief has taken the necessary measures to improve the services of the agency and the 121 electric cooperatives (ECs) under its jurisdiction.

NEA is a GOCC attached to the Department of Energy (DOE). It is tasked to implement the rural electrification program of the national government by strengthening the legal, institutional, financial, and technical viability of the ECs for the benefit of the communities they serve. ###