GSIS, SSS top GOCC earners

Credit to Author: Tempo Desk| Date: Fri, 18 Oct 2019 11:47:47 +0000

Government-owned social insurance firms Government Service Insurance System and Social Security System remain as the highest income earners among 613 government-owned and controlled corporations in 2018, the Commission on Audit has revealed.

“The combined total income of GCs of P1.463 trillion in CY 2018 increased by P284.87 billion or 24.18 percent compared to CY 2017 total income of P1.178 trillion,” CoA said in the 2018 Annual Financial Audit Report released recently.

On the other hand, expenses for 2018 combined for P1.159 trillion or higher by P213.80 billion or 22.63 percent to 2017’s total expenses of P944.85 billion.

The 10 top earners among GOCCs earned 82.65 percent of the P1.463 trillion profit for the year.

These State firms had a combined income of P1.209 trillion while the rest of the 603 public corporations contributed only P2
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