Gov't eyes raising P105B from privatization of assets through 2026
DOF Undersecretary Velasquez said the government targets to raise P5 billion from privatization efforts this year and P100 billion in 2026.
'We also want to utilize non-tax revenue through privatization of, let's say, some idle assets of the government, not just to increase revenues for the government, but also to add value to this area,' she said in a recent forum in Makati City.
The government is looking to generate revenues worth P4.520 trillion in 2025 and P4.983 trillion in 2026, based on the latest report of the Development Budget Coordination Committee (DBCC).
About 28,665 government non-performing assets have been turned over to the Privatization Management Office (PMO) for privatization, according to the DOF's January report.
Among those targeted to be privatized this year are government assets in NLEX Corp. (P330 million), receivables in the Nonoc Mining and Industrial Corp. (P820 million), Elorde Sports and Tourism Development Corp. (P621 million), Food Terminal Inc. (P40.46 billion), the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plants (P36.26 billion), and SMC SLEX Inc. (P12.0 to P24.8 billion).
Velasquez said the DOF is also looking to collaborate with the private sector for more infrastructure projects under the public-private partnership (PPP) scheme.
'We're allocating enough budget for infrastructure needs of the Philippines, but also, we're tapping the private sector to join us in nation building,' she said.
'What we do want is a crowding of public investments in infrastructure to crowd in private investment, and what we've seen recently, there are a lot of interests,' she added.
The government has received many unsolicited proposals that are now under the procurement phase—the Boracay Bridge Project, the digitized traffic enforcement for Bacoor City, the digitization of the physical apprehension of the traffic violations under the single ticketing system (STS), the national single window through an integrated facilitation, the operation and maintenance of Palayan City Hospital, the redevelopment of the General Santos City Public Market, and the South Luzon Integrated Terminal Exchange (SLITX). —VBL, GMA Integrated News
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