CIAC remits P203M to national coffers

CIAC remits P203M to national coffers | Daily Tribune

CLARK Freeport — The Clark International Airport Corp. (CIAC) has turned over P202,905,691.45 worth of dividends to the Bureau of Treasury from the agency’s operations in 2023.

According to CIAC president Arrey Perez, the non-chartered government-owned and controlled corporation (GOCC) remitted the P203-million dividends on 30 April, citing that the remittance is a testament to the financial capability of the agency.

Perez said that last year’s remittance is 12 percent higher than the previous year, with 2022 recording a remittance of P180.4 million. He added that in 2018 when airport operations and management were still under the CIAC, the agency was able to pay dividends amounting to P156.7 million.

“Our remittance dwindled to P95 million in 2020 after the airport was privatized, but this year’s P203 million remittance is the CIAC’s biggest dividends share,” he added.

The CIAC chief attributed the increase in revenues to the corporation’s “fiscal discipline, a dynamic finance team which made us a debt-free and financially healthy government corporation, the efficient collection from the leases of locators at the Clark civil aviation complex, and the entry of new investments,” as reasons for the agency’s strong financial standing.

The Clark International Airport is currently being operated by the Luzon International Premier Airport Development Corp. (LIPAD), a consortium with a 25-year operations and management concession agreement with the Bases Conversion and Development Authority (BCDA) signed in 2019.

The BCDA is the parent company of the CIAC while airport operations are under the supervision of the Department of Transportation (DOTr).

Perez said CIAC has consistently adhered to Republic Act 7656 or the Dividend Law by declaring and remitting the required cash dividends to the national government.

The accomplishment was also highlighted last 6 May during the GOCC Day at the Philippine International Convention Center where President Ferdinand Marcos Jr. honored the GOCCs for their invaluable contributions “not only to the nation’s coffers, but also to the continued progress of the Philippines as envisioned under a ‘Bagong Pilipinas.”