DOF to ramp up sale of state-owned assets

Unsolicited bids seen boosting privatization goal

- LOUISE MAUREEN SIMEON

The Department of Finance (DOF) is banking on unsolicited proposals to boost its privatization goal as it estimates that roughly P20 billion is achievable for now.

Finance Undersecretary Catherine Fong said the DOF has a conservative list of assets that could yield nearly P20 billion in revenues this year. However, this is just 20 percent of the P100-billion privatization target for 2025.

Nonetheless, Fong is optimistic that the new privatization rules, which took effect yesterday, could ramp up the sale of state-owned assets.

"With the guidelines, we're hoping that the disposal will be faster, to boost our target and create more economic activities for the idle assets," Fong told The STAR.

"This (P20 billion) is just conservative; it does not yet include the potential revenues from unsolicited proposals," she said.