Philippine Fisheries Development Authority (PFDA) received a Certificate of Acknowledgement of Dividend Remittances during 2024 Government-Owned or -Controlled Corporation (GOCC) Day for its invaluable contribution to Philippine economic development on May 6, 2024 at the Philippine International Convention Center (PICC), Pasay City.
In pursuit of a higher growth path that aligns with the 8-Point Socioeconomic Agenda of President Ferdinand R. Marcos, Jr.’s administration and per Republic Act No. 7656, also known as the Dividend Law, Department of Finance (DOF) Secretary Mr. Ralph G. Recto has requested GOCCs to increase their dividend remittances from a minimum of 50% to 75% on 2023 net earnings.
Led by PFDA Acting General Manager Atty. Glen A. Pangapalan, the agency has remitted P122,239,186.46 in F.Y. 2023.
In his opening message, Mr. Recto thanked the 47 GOCCs for their contributions to driving the country’s development agenda forward. According to the Finance Secretary, as of May 6, 2024, the GOCCs have remitted a total of P88.56 billion.
“It is difficult to imagine our economic progress without our GOCCs... They have been the prime movers of our economic development. Maraming salamat po sa inyong suporta at kooperasyon. We assure you that all these contributions will be managed judiciously with utmost transparency and accountability,” Mr. Recto said.
Meanwhile, during his keynote speech, President Marcos acknowledged the significant contributions of the GOCCs to the country's economic development. President Marcos thanked the GOCCs for their desire and endeavor to serve the country.
"Thank you for the services that you have rendered and for the dividends you have remitted. Since those dividends also come from the people, let me assure you that they will be carefully spent and will be plowed back to them through projects and programs that will improve their lives today and create a better tomorrow for our children," the President said.
“Your remittances will not only allow our economy to recover, but it would help cut our borrowings and lessen the pressure to inflict higher taxes on the people. Mabuhay ang mga GOCC. Mabuhay ang Bagong Pilipinas,” the President exclaimed.
President Marcos led the awarding of the certificates alongside Finance Secretary Recto and Executive Secretary Lucas P. Bersamin.
(Mark Angelo N. Perez – Public Information Division with photos from Presidential Communications Office Facebook Page)