THE Privatization and Management Office (PMO) collected a total of P411.52 million in the first half of 2024, data from the Bureau of the Treasury showed.

Of the total, the bulk or P341.75 was generated from sales comprising four properties of the following entities: Northern Cement Corp. (P3.11 million), Al Amanah Islamic Bank (P25.63 million), Nonoc Mining (P147.96 million), and Metropolitan Manila Development Authority (P165.06 million).

Meanwhile, the rest came from lease rental (P69.36 million) and interest income (P410,000).

The PMO serves as the government's marketing arm for assets, government corporations and assigned properties for disposition, as directed by the Privatization Council under Executive Order (EO) 323, Series of 2000.

It also handles the disposal of properties transferred to the Republic according to the Philippine Property Act of 1946, Republic Act 8, and EO 99 (Series of 1947), as specified in EO 471 (Series of 2005).

In June alone, it collected P12.22 million, two times higher than the P5.91 million collected in the previous month.

Broken down, it generated P8.93 million from lease rental, P3.24 million from sales, and P50,000 from interest income.

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