PCGG fails to sell assets of Marcos, cronies in 2021

MANILA, Philippines --- As the Presidential Commission on Good Government (PCGG) was unable to dispose of any assets from the Marcos dictatorship and its cronies last year, the national government's privatization proceeds fell to a record-low P320.95 million. The latest Bureau of the Treasury data showed that all of the revenues from privatization activities in 2021 were contributed by the Department of Finance (DOF)-attached Privatization and Management Office (PMO). Last year, the PMO generated P17.14 million from sales, P83.65 million in lease rental, and P182.15 million in other income. The PMO also collected P38.01 million in dividends from Semirara Mining Corp. in 2021. ...

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