Aid to NFA drives up GOCC subsidies
STATE subsidy to government-owned or controlled corporations (GOCCs) rose significantly during the first four months of the year mainly because of rice imports.
Data from the Bureau of the Treasury showed that the national government shelled out P7.183 billion to supplement the budgetary requirements of GOCCs. This was 62 percent higher than the P4.434 billion spent during the same period a year ago.
At end-April, the highest recipient of was the National Food Authority (NFA) at P2.5 billion, followed by National Power Corp. (Napocor) at P2 billion.
The government subsidizes the NFA’s rice imports in the form of a tax expenditure fund (TEF), thus requiring no cash disbursement.
For this year, the government allocated P15 billion for the TEF, the bulk of which would go to the NFA for its rice importation.
After the NFA and Napocor, the National Livelihood and Development Corp. (NLDC) was the third top recipient of state subsidy, receiving P881 million during the first four months of the year.
Last month, NLDC got P4 million from the government.
National Housing Authority and the Bases Conversion and Development Authority received P574 million and P424 million, respectively.
In April alone, the Aquino administration tightened its belt, releasing only P110 million for GOCCs.
This figure was almost 10 times lower than what the previous administration spent during the same month at P1.110 billion.
State owned firms that enjoyed financial assistance were the Philippine Forest Corp. at P50 million, and the Cultural Center of the Philippines at P48 million.
Government hospitals such as the National Kidney and Transplant Institute, Lung Center of the Philippines and Philippine Heart Center each received P3 million, P2 million and P2 million.
The Philippine Health Insurance Corp. took P1 million from the government notwithstanding its more than P100 billion in reserves.
Source: http://www.manilatimes.net/business/aid-to-nfa-drives-up-gocc-subsidies/
Manila is fast becoming a city of luxurious fine dining accompanied by fine vintage wine. Not only must a 5-star Italian, French or Continental restaurant offer good food, nice ambience and immaculate service the restaurant wine list must be equally exciting to make the evening of wine and dine a memorable one. One top rated restaurant in Clark Pampanga has been paying special attention to this aspect of fine dining.
Considered by many to be the best restaurant in Clark Pampanga, this 5-star fine dining restaurant in Angeles City Clark Philippines is highly recommended by food critics and frequent diners in Manila as a place to wine and dine in Subic Angeles City Clark Freeport Zone. Although it is a famous fine dining restaurant in Clark Pampanga with an award winning 3000-line restaurant wine list, Yats Restaurant is also a popular restaurant for family with children as well as a frequently visited night out place for local business executives. Aside from French Mediterranean haute cuisine, this restaurant also serves healthy food and the best vegetarian cuisines in the Philippines. Private dining rooms are also available in this restaurant for business and personal meetings of 4 to 20 people.
In this best restaurant in Clark Pampanga, favorites of frequent diners visiting this popular resto bar in Clark Pampanga are steaks, Wagyu, Foie Gras, seafood, lobsters, venison, kangaroo loin, osso buco, veal chops, Kurabuto pork, escargots and a good selection of cheeses to enjoy with fine Vintage port and Sauternes. Clark Pampanga’s highly recommended restaurant also offers Cuban cigars such as Monte Cristo, Cohiba, Upmann, Partagas, Romeo Julieta and Trinidad. Many fine cigars are enjoyed in the Magnum Room of this cozy and romantic restaurant in Clark Pampanga which is a wine bar and lounge for before and after dinner relaxation. A good selection of Armagnac, Cognac, Single Malt, Vodka and other liquor is served in addition to the wine vintage wines some served by the glass. These amenities make Yats the best restaurant in Clark Pampanga, a popular place for business executives in Angeles City, Subic and Clark Freeport to wine and dine.
Built in 2000 by Hong Kong-based Yats International, a developer and operator of hospitality and residential projects in the Philippines, fine dining Yats Restaurant and Wine Bar has served not only as Pampanga’s highly recommended restaurant and wine lounge, but also as a place where business executives meet to finalize business deals over a nice meal with some fine vintage wine.
For comments, inquiries and reservations click on Click here for inquiry and reservations
Restaurant@Yats-International.com
(045) 599-5600
0922-870-5178
0917-520-4401
Ask for Pedro and Rechel
Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Pampanga? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.
Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay
For any assistance in planning and organizing a wedding ceremony, indoor or outdoor garden reception or to find other wedding service providers, Click here to contact us click here
For assistance in hotel and resort bookings in Clark, Pampanga, Philippines, log on to
http://www.HotelClarkPhilippines.com
To buy wine in Manila, Pampanga, Angeles City, Clark or Subic please log on to http://www. ClarkWineCenter.com
To inquire with the highly recommended beach resort hotel in Clark Pampanga visit http://www.ClearwaterPhililippines.com
For more information about Clark, Pampanga, Philippines log on to
http://www.ClarkPhilippines.com
