NextGen Day

According to the Department of Finance (DOF), the government intends to sell more than 130 properties this year for a combined PHP2.5 billion.

In a recent briefing, DOF Secretary Benjamin Diokno stated that the privatization of 137 properties is the DOF’s goal for 2023.

A few of these are the Emmanuel Community Hospital Inc. in Tondo, Manila (PHP368.4 million), the Central Bank Board of Liquidators in Antipolo City (PHP234.9 million), 21 lots of the Technology Resource Center (PHP140.11 million), the Elorde Sports and Tourism Development Corporation (PHP485 million), the Technology Resource Center in Visayas (PHP100 million), the NAFCO lots impacted by the High Priority Bus System project (PHP117.2

At its meeting on May 31, the Privatization Council gave the go-ahead to sell six properties worth a combined PHP152.8 million.

These include the Central Bank-Board of Liquidators in Pasay City (PHP1.9 million), the Al-Amanah Islamic Bank of the Philippines in Tugbok District, Davao City (PHP25 million), two separate Al-Amanah Islamic Investments Bank of the Philippines lots along Bato Road, Bato, Toril District in Davao City (PHP25.3 million), and two Technology Resource Center in Visayas (PHP50.4 million and PHP50.2 million).

According to Diokno, the Privatization Council approved the final sale of assets totaling PHP800 million during the first six months of the Marcos administration.

In comparison, PHP664 million in revenues were received from the prior administration from 2019 to 2021.

In 2019, the government sold assets worth PHP594.7 million; in 2020, PHP54.9 million; and in 2021, PHP14.06 million.

“This aggressive disposition of non-performing assets will not only clear the National Government’s books of stagnant assets but will also provide additional much-needed revenue to fund priority projects in the Philippines,” Diokno added.

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