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Article: Asset-sale proceeds way below govt target
- Article from:
- The Manila Times
- Article date:
- October 10, 2009
- Author:
CopyrightCopyright Content Parnership Pty Ltd Oct 10, 2009. Provided by ProQuest LLC. (Hide copyright information)
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With only three months left before the yearends, the Department of Finance has generated only less than 3 percent of its 2009 privatization target in August, the Congressional Planning and Budget Department said.
Data from the agency showed that as of August, the government has collected a total of P786 million from sale of small properties.
The government, through the Project Management Office, aimed to raise about P30 billion from sale of real properties such as Asialand Development Corp., Davao Timber Corporation, Menzi Development Corp., Philippine Cotton Corp., Pioneer Glass Manufacturing Corp., Sta. Clara Lumber Co. Inc., Utility Enterprises Corp., and the 120-hectare Food ...