Gov’t eyes ₱2.5B from sale of idle state assets

Metro Manila (CNN Philippines, June 5) — The Marcos administration is pursuing its “aggressive” disposal of idle government properties with ₱2.5 billion worth of assets to be privatized this year, Finance Secretary Benjamin Diokno said.

Proceeds from the sale could give priority projects a funding boost, he added.

A total of 143 state assets have been identified for disposal, a copy of a document from the Department of Finance (DOF) showed.

“The aggressive disposition of non-performing assets will provide much-needed revenues for priority projects. It will also clear the National Government’s books of stagnant assets,” Diokno told reporters over the weekend.

From 2019 to 2021, total sales only reached ₱664 million, the DOF chief added.

Diokno noted that within the first six months of the new administration, the Privatization Council already greenlighted the final sale of ₱800 million worth of assets.

Just last week, the council approved the sale of six properties with a total value of ₱152.8 million, he added.