The Manila International Airport Authority’s (MIAA) whopping remittance of P13.9 billion in dividends to the national government from 2016-2019 exceeded the agency’s total remittances in the last 20 years.
Data from the Department of Transportation (DOTr) revealed that the agency remitted dividends of P13,900,904,299.33 in the first four years of the Duterte administration.
The total beats the MIAA’s remittances in the last 20 years prior to the administration which stood at P11,149,527,394.99.
Transportation Secretary Arthur Tugade lauded the MIAA for its impressive fiscal performance.
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“MIAA’s performance in four years show consistent good fiscal management. My congratulations to the men and women of the MIAA, with the leadership of GM (General Manager) Ed Monreal, for your sterling numbers. The Filipino people stand to benefit from your good work,” Tugade said.
MIAA made its record-breaking fiscal performance in 2018 when it remitted P3.42 billion in dividends to the national government.
The figure was the highest in MIAA history, exceeding by more than 50% its 2017 remittance of P2.2 billion. The 2017 dividend payment was then the highest recorded dividend payment made by the agency in the last two decades.
The MIAA is mandated to remit at least 50% of its annual net income to the NG after it was granted fiscal autonomy two decades ago.
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With its continuing strong fiscal performance, the MIAA solidifies its position in the “Billionaire’s Club,” an elite circle of government-owned and controlled corporations (GOCCs) that contribute billions of pesos in dividends to the national government.
Meanwhile, MIAA General Manager Ed Monreal called on the personnel of the country’s premier gateway to continue striving to further improve fiscal management and allocation of resources to ensure effective and efficient delivery of airport services at the Ninoy Aquino International Airport.
“The MIAA remains committed in bettering its fiscal management, as we also work on improving the infrastructure and operations of the NAIA. Ultimately, our fiscal performance should resonate in our efforts in making each airport passenger satisfied beyond expectations,” Monreal said. (RA)
