+ Follow FINANCE UNDERSECRETARY NIEVES OSORIO Tag
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 277869
[Title] => GOCCs want more share of their profits
[Summary] => Some government owned and controlled corporations (GOCCs) are asking the National Government (NG) to allow them to keep more of their profits instead of remitting half as required by law.
The Department of Finance (DOF) said over the weekend that GOCCs that actually generate profits want to be able to plow back some of the money into their capital instead of remitting them as dividends.
[DatePublished] => 2005-05-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 277871
[Title] => Napocor debts to be absorbed by NG less than P300B
[Summary] => The amount of debts that the National Government (NG) would have to take over from the National Power Corp. (Napocor) will be less than the estimated P300 billion, finance officials said over the weekend.
They said the adjustment in power generation rates as well as the proceeds from the sale of its assets would enable Napocor to trim down its total obligations and improve the status of its existing debt for an overall improvement of its debt portfolio.
[DatePublished] => 2005-05-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 277355
[Title] => DOF wants say on GOCCs’ budgets
[Summary] => The Department of Finance (DOF) wants to acquire authority over the budget programming of government-owned and controlled corporations (GOCCs) in an effort to contain the consolidated public sector deficit within target levels.
Government-owned and controlled corporations are expected to generate a total financing deficit of about P42.5 billion this year, down from P90.7 billion last year.
[DatePublished] => 2005-05-13 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 264234
[Title] => Government set to borrow $750 M — Villar
[Summary] => It seems that there’s no stopping the government’s borrowing spree despite the looming fiscal crisis and appeals from lawmakers and the public for a moratorium on new loans pending a congressional inquiry into the country’s debt stock.
Sen. Manuel Villar Jr., chairman of the Senate finance committee, said yesterday the national government is set to borrow an additional $750 million to $1 billion for the debt-laden National Power Corp. (Napocor), the biggest money loser among state firms.
[DatePublished] => 2004-09-10 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097047
[AuthorName] => Jess Diaz
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[4] => Array
(
[ArticleID] => 263983
[Title] => GOCC heads asked to cut own pay
[Summary] => The call for sacrifice in the wake of the looming fiscal crisis shifted yesterday to officials of the Social Security System (SSS), Government Service Insurance System (GSIS), National Power Corp. (Napocor), and other state-owned or controlled corporations.
"These officials should take a substantial pay cut," chorused senators who attended a hearing on the fiscal crisis.
[DatePublished] => 2004-09-08 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097047
[AuthorName] => Jess Diaz
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[5] => Array
(
[ArticleID] => 245954
[Title] => NG readies bidding for Metro water supply proj
[Summary] => The National Government (NG) is preparing to bid out the P3.7-billion Laguna Lake bulk water supply project intended to supplement Metro Manila’s potable water supply requirements.
[DatePublished] => 2004-04-13 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 228257
[Title] => Gov’t borrows P1.8-B to pay excise tax share of tobacco provinces
[Summary] => The Arroyo administration borrowed P1.8 billion through the issuance of five-year certificates to pay for the share of tobacco-producing areas in the proceeds of the excise tax on tobacco.
The transaction was concluded today, with the Land Bank of the Philippines (LandBank) appointed as the trustee that would securitize the receivables of local government units (LGUs) qualified to receive a share of the excise tax.
[DatePublished] => 2003-11-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 216510
[Title] => AFP wants gov’t to fund RSBS
[Summary] => The Armed Forces of the Philippines (AFP) wants the government to fund its Retirement Service Benefit System (RSBS) but finance officials said key policy decisions still have to be made that would ultimately require legislation to overhaul the beleaguered fund.
The Department of Finance said the AFP had proposed that the pension benefits of military personnel be funded out of government allocations instead of contributions from RSBS members, a scheme modeled after the military pension and provident funds of the US.
[DatePublished] => 2003-08-08 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 214294
[Title] => DOF mulls rehab of AFP-RSBS
[Summary] => Officials of the Department of Finance (DOF) and the Department of National Defense (DND) have been meeting to discuss the possible rehabilitation of the bankrupt Retirement and Separation Benefit System of the Armed Forces of the Philippines (AFP-RSBS).
Thousands of army soldiers and officers lost their lifetime savings when the RSBS went bankrupt because of bad and fraudulent loans.
[DatePublished] => 2003-07-20 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => Array
(
[ArticleID] => 156248
[Title] => P&A to advise government on sale of P40-B mortgage
[Summary] => The Housing and Urban Development Coordinating Council's (HUDCC) initiative for the liquidation of some P40 billion in residential housing loans held by the National Home Mortgage Finance Corporation (NHMFC) to unlock fresh funds for the government's housing program gets underway with the signing last Wednesday of the letter of engagement appointing Punongbayan & Araullo (P&A Ernst & Young), as exclusive financial advisor for the planned mortgage liquidation.
[DatePublished] => 2002-04-06 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Real Estate
[SectionUrl] => real-estate
[URL] =>
)
)
)
FINANCE UNDERSECRETARY NIEVES OSORIO
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 277869
[Title] => GOCCs want more share of their profits
[Summary] => Some government owned and controlled corporations (GOCCs) are asking the National Government (NG) to allow them to keep more of their profits instead of remitting half as required by law.
The Department of Finance (DOF) said over the weekend that GOCCs that actually generate profits want to be able to plow back some of the money into their capital instead of remitting them as dividends.
[DatePublished] => 2005-05-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 277871
[Title] => Napocor debts to be absorbed by NG less than P300B
[Summary] => The amount of debts that the National Government (NG) would have to take over from the National Power Corp. (Napocor) will be less than the estimated P300 billion, finance officials said over the weekend.
They said the adjustment in power generation rates as well as the proceeds from the sale of its assets would enable Napocor to trim down its total obligations and improve the status of its existing debt for an overall improvement of its debt portfolio.
[DatePublished] => 2005-05-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 277355
[Title] => DOF wants say on GOCCs’ budgets
[Summary] => The Department of Finance (DOF) wants to acquire authority over the budget programming of government-owned and controlled corporations (GOCCs) in an effort to contain the consolidated public sector deficit within target levels.
Government-owned and controlled corporations are expected to generate a total financing deficit of about P42.5 billion this year, down from P90.7 billion last year.
[DatePublished] => 2005-05-13 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 264234
[Title] => Government set to borrow $750 M — Villar
[Summary] => It seems that there’s no stopping the government’s borrowing spree despite the looming fiscal crisis and appeals from lawmakers and the public for a moratorium on new loans pending a congressional inquiry into the country’s debt stock.
Sen. Manuel Villar Jr., chairman of the Senate finance committee, said yesterday the national government is set to borrow an additional $750 million to $1 billion for the debt-laden National Power Corp. (Napocor), the biggest money loser among state firms.
[DatePublished] => 2004-09-10 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097047
[AuthorName] => Jess Diaz
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[4] => Array
(
[ArticleID] => 263983
[Title] => GOCC heads asked to cut own pay
[Summary] => The call for sacrifice in the wake of the looming fiscal crisis shifted yesterday to officials of the Social Security System (SSS), Government Service Insurance System (GSIS), National Power Corp. (Napocor), and other state-owned or controlled corporations.
"These officials should take a substantial pay cut," chorused senators who attended a hearing on the fiscal crisis.
[DatePublished] => 2004-09-08 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097047
[AuthorName] => Jess Diaz
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[5] => Array
(
[ArticleID] => 245954
[Title] => NG readies bidding for Metro water supply proj
[Summary] => The National Government (NG) is preparing to bid out the P3.7-billion Laguna Lake bulk water supply project intended to supplement Metro Manila’s potable water supply requirements.
[DatePublished] => 2004-04-13 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 228257
[Title] => Gov’t borrows P1.8-B to pay excise tax share of tobacco provinces
[Summary] => The Arroyo administration borrowed P1.8 billion through the issuance of five-year certificates to pay for the share of tobacco-producing areas in the proceeds of the excise tax on tobacco.
The transaction was concluded today, with the Land Bank of the Philippines (LandBank) appointed as the trustee that would securitize the receivables of local government units (LGUs) qualified to receive a share of the excise tax.
[DatePublished] => 2003-11-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 216510
[Title] => AFP wants gov’t to fund RSBS
[Summary] => The Armed Forces of the Philippines (AFP) wants the government to fund its Retirement Service Benefit System (RSBS) but finance officials said key policy decisions still have to be made that would ultimately require legislation to overhaul the beleaguered fund.
The Department of Finance said the AFP had proposed that the pension benefits of military personnel be funded out of government allocations instead of contributions from RSBS members, a scheme modeled after the military pension and provident funds of the US.
[DatePublished] => 2003-08-08 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 214294
[Title] => DOF mulls rehab of AFP-RSBS
[Summary] => Officials of the Department of Finance (DOF) and the Department of National Defense (DND) have been meeting to discuss the possible rehabilitation of the bankrupt Retirement and Separation Benefit System of the Armed Forces of the Philippines (AFP-RSBS).
Thousands of army soldiers and officers lost their lifetime savings when the RSBS went bankrupt because of bad and fraudulent loans.
[DatePublished] => 2003-07-20 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => Array
(
[ArticleID] => 156248
[Title] => P&A to advise government on sale of P40-B mortgage
[Summary] => The Housing and Urban Development Coordinating Council's (HUDCC) initiative for the liquidation of some P40 billion in residential housing loans held by the National Home Mortgage Finance Corporation (NHMFC) to unlock fresh funds for the government's housing program gets underway with the signing last Wednesday of the letter of engagement appointing Punongbayan & Araullo (P&A Ernst & Young), as exclusive financial advisor for the planned mortgage liquidation.
[DatePublished] => 2002-04-06 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Real Estate
[SectionUrl] => real-estate
[URL] =>
)
)
)
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