THE government’s nonfinancial assets have been valued at P1.9 trillion at the end of 2021, growing by P361 billion, the Department of Finance (DoF) said.
The DoF, in a statement on Monday, said its registry contains 380,817 separate assets, including roads, bridges, hospitals, power plants, and irrigation facilities.
These items are registered under the Bureau of the Treasury’s (BTr) National Asset Registry System (NARS).
“We will continue to expand the coverage of the NARS to improve the oversight and management of nonfinancial public assets,” National Treasurer Rosalia V. de Leon said.
The additional P361 billion represents 5,819 assets, mostly listed under the Transportation department and its agencies.
“Several acquired properties forfeited in favor of the government were endorsed to the Privatization and Management Office for disposition,” the DoF added.
The BTr launched the NARS in 2017 in an effort to monitor and manage the National Government’s assets.
NARS supports the National Indemnity Insurance Program, which covers government assets that are at risk due to typhoons, floods, earthquakes, and volcanic eruptions.
The Treasury is working to upgrade the system in partnership with the World Bank and the Japan International Cooperation Agency. — Jenina P. Ibañez