The Department of Finance (DOF) wants to further foster the government’s revenue collection from extractive industries, which the Marcos administration believes to be one of the drivers of the country’s long-term economic expansion.

At the FORGE PH: Philippine Extractive Industries Transparency Initiative National Conference on Tuesday, Nov. 8, Finance Secretary Benjamin E. Diokno said the government already generated P363 billion in revenues from the extractive industries from 2012 to 2019.
To further boost the revenue haul, Diokno said the government should improve the inclusive and date-informed management of the extractive industries.

“With the Marcos administration banking on the potential of the extractive sector to drive long-term economic expansion, the inclusive and data-informed governance of the extractive industries becomes more critical than ever,” Diokno said.

FORGE PH is the annual assembly of the extractive sector that updates stakeholders on progress in achieving greater transparency and accountability in the extractive industries.

Read more: https://mb.com.ph/.../extractive-sectors-to-drive-ph.../.