posted April 05, 2020 at 07:30
pm by Alena Mae S. Flores
State-run
National Electrification Administration will remit around P1.35 billion of
unused subsidies and dividends to the national government to support efforts to
mitigate the impact of the coronavirus disease 2019 (COVID-19) pandemic.
The NEA
board of administrators approved the remittance to the Bureau of Treasury as
requested by the Department of Finance.
Of the
amount, P1.26 billion represents unutilized subsidy funds received in 2016 and
earlier, and P85.71 million in dividends to the national government from its
2019 operations.
NEA
administrator Edgardo Masongsong said the move was pursuant to Republic Act No.
11469 or the “Bayanihan to Heal as One Act.”
“The
amount will help our national government facilitate the delivery of much needed
assistance for many industries and livelihoods that were severely disrupted by
the ongoing public health emergency,” Masongsong said.
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