TABLE E.7                            
INCOME STATEMENTS OF SELECTED GOVERNMENT CORPORATIONS, FY 2001 (Continuation)                      
(In Thousand Pesos)                            
                               
PARTICULARS GROSS REVENUES  EXPENSES    NET PROFIT (LOSS) (Before Tax)  INCOME TAX  NET PROFIT (LOSS) (After Tax)  SUBSIDIES  
Operating Revenue Non-Operating Revenue Total  Personal Services  Maintenance and Other Operating Expenses  Others  Total    Subsidies from NG  Rest of Subsidies  NET PROFIT AND SUBSIDIES
                           
DEPARTMENT OF AGRARIAN REFORM        19,014,270     1,207,610     20,221,880       4,472,300      4,031,660       11,117,920      19,621,880 #          600,000                -             600,000                  -                -             600,000
1. Land Bank of the Philippines                  a/         19,014,270       1,207,610       20,221,880        4,472,300       4,031,660         11,117,920        19,621,880            600,000             600,000              -               600,000
DEPARTMENT OF AGRICULTURE          1,517,509        847,915       2,365,424       2,406,561         919,540            823,057        4,149,158 #      (1,783,734)                -         (1,783,734)     1,038,670              -            (745,064)
2. National Dairy Authority             5,000               5,000             62,966            27,581                 6,589              97,136            (92,136)             (92,136)           60,596             (31,540)
3. National Irrigation Administration              604,000          634,000         1,238,000        1,092,938          274,900              528,000          1,895,838          (657,838)           (657,838)                  -             (657,838)
4. National Tobacco Administration                18,125           21,921             40,046           175,483            45,215               68,392            289,090          (249,044)           (249,044)          284,143              35,099
5. Philippine Coconut Authority              132,700           21,797            154,497           351,038          131,680                 8,000            490,718          (336,221)           (336,221)          306,113             (30,108)
6. Philippine Crop Insurance Corporation                54,913           28,539             83,452             79,986            51,109              146,032            277,127          (193,675)           (193,675)          102,727             (90,948)
7. Philippine Fisheries Development Authority              377,808           12,935            390,743           204,028          170,461               16,699            391,188                 (445)                  (445)             7,385                6,940
8. Philippine Rice Research Institute                12,500           10,500             23,000             82,134            79,373                      -              161,507          (138,507)           (138,507)          150,882              12,375
9. Quedan & Rural Credit Guarantee Corporation              175,179           71,500            246,679           131,988            61,590               45,345            238,923               7,756                7,756                  -                  7,756
10. Sugar Regulatory Administration              142,284           41,723            184,007           226,000            77,631                 4,000            307,631          (123,624)           (123,624)          126,824                3,200
DEPARTMENT OF ENERGY      109,724,446   18,156,367   127,880,813       5,566,600      6,236,214     135,047,234    146,850,048 #    (18,969,235)                -       (18,969,235)     1,000,000              -       (17,969,235)
11. National Electrification Administration              847,578           64,460            912,038           252,347          475,853           1,795,781          2,523,981       (1,611,943)                -          (1,611,943)       1,000,000           (611,943)
12. National Power Corporation       108,080,495     18,070,720     126,151,215        5,261,319       3,934,314       133,251,453      142,447,086      (16,295,871)                -         (16,295,871)                  -                -         (16,295,871)
13. Philippine National Oil Company              796,373           21,187            817,560             52,934       1,826,047                      -            1,878,981  b/       (1,061,421)                -          (1,061,421)                  -                -          (1,061,421)
DEPARTMENT OF ENVIRONMENT AND
NATURAL  RESOURCES             133,710                  -            133,710            45,876           85,945                      -             131,821 #              1,889                -                 1,889                  -                -                 1,889
14. Laguna Lake Development Authority              133,710            133,710             45,876            85,945            131,821               1,889                1,889                1,889
DEPARTMENT OF FINANCE             314,097          25,358          339,455            83,814           88,797              39,660           212,271 #          127,184        31,017             96,167                  -                -               96,167
15. Trade and Investment Development Corporation              314,097           25,358            339,455             83,814            88,797               39,660            212,271            127,184         31,017              96,167              96,167
DEPARTMENT OF HEALTH        11,012,782     3,348,241     14,361,023       1,408,621      1,946,745         9,470,714      12,826,080 #       1,534,943                -          1,534,943     1,606,491     257,303        3,398,737
16. Lung Center of the Philippines                53,300             2,700             56,000           148,409            71,000               13,000            232,409          (176,409)           (176,409)          250,000              73,591
17. National Kidney and Transplant Institute              541,292           16,000            557,292           233,570          360,800              143,300            737,670          (180,378)           (180,378)          194,927              14,549
18. Philippine Children's Medical Center              124,614           15,386            140,000           208,348          140,188                      -              348,536          (208,536)           (208,536)          191,914             (16,622)
19. Philippine Health Insurance Corporation           9,482,929       3,264,974       12,747,903           428,769          773,843           9,267,345        10,469,957         2,277,946          2,277,946          787,263      257,303          3,322,512
20. Philippine Heart Center              804,347           49,181            853,528           355,562          577,661               47,069            980,292          (126,764)           (126,764)          128,589                1,825
21. Philippine Institute for Traditional and
   Alternative  Health Care                                              6,300               6,300             33,963            23,253                      -                57,216            (50,916)             (50,916)           53,798                2,882
DEPARTMENT OF LABOR & EMPLOYMENT               84,954            3,239            88,193            26,719           46,405                3,256             76,380 #            11,813                -               11,813                  -                -               11,813
22. Employee's Compensation Commission                84,954             3,239             88,193             26,719            46,405                 3,256              76,380             11,813              11,813              11,813
DEPARTMENT OF NATIONAL DEFENSE               63,268          18,452            81,720            36,084           38,385                6,027             80,496 #              1,224                -                 1,224                  -                -                 1,224
23. PHIVIDEC Industrial Authority                63,268           18,452             81,720             36,084            38,385                 6,027              80,496               1,224                1,224                1,224
DEPT. OF PUBLIC WORKS & HIGHWAYS          1,150,788        270,327       1,421,115          431,449         164,909         2,184,307        2,780,665 #      (1,359,550)        38,107       (1,397,657)                  -                -         (1,397,657)
24. Local Water Utilities Administration              975,998          157,797         1,133,795           360,728          104,760              521,170            986,658            147,137         38,107             109,030             109,030
25. Metropolitan Waterworks & Sewerage System-Residual              174,790          112,530            287,320             70,721            60,149           1,663,137          1,794,007       (1,506,687)        (1,506,687)        (1,506,687)
DEPARTMENT OF TOURISM             735,867        245,469          981,336          368,913         648,280              64,420        1,081,613 #         (100,277)                -            (100,277)          81,009              -              (19,268)
26. Nayong Pilipino Foundation                60,153                  -               60,153             20,932            33,873                      -                54,805               5,348                5,348                5,348
27. Philippine Convention & Visitors Corporation                 5,000          178,321            183,321             42,567          217,386                      -              259,953            (76,632)             (76,632)           81,009                4,377
28. Philippine Tourism Authority              670,714           67,148            737,862           305,414          397,021               64,420            766,855            (28,993)             (28,993)             (28,993)
                               
DEPARTMENT OF TRADE AND INDUSTRY          7,660,412        172,144       7,832,556          383,651      6,704,411            622,229        7,710,291 #          122,265        40,847             81,418          91,604       13,524           186,546
29. Center for Int'l. Trade Expositions & Missions                92,010           15,436            107,446             34,158          148,676                 6,078            188,912            (81,466)             (81,466)           76,588        13,524                8,646
30. Cottage Industry Technology Center                 3,500                600               4,100             15,721              7,837                      -                23,558            (19,458)             (19,458)           15,016               (4,442)
31. National Development Company                       c/
32. Philippine Economic Zone Authority           4,119,232          145,883         4,265,115           292,714       3,142,339              610,827          4,045,880            219,235         40,847             178,388             178,388
33. Philippine International Trading Corp.           3,445,670           10,225         3,455,895             41,058       3,405,559                 5,324          3,451,941               3,954                3,954                  -                  3,954
DEPT. OF TRANS. & COMMUNICATION        11,142,780        728,676     11,871,456       2,342,458      2,907,301         7,762,265      13,012,024 #      (1,140,568)        97,265       (1,237,833)        166,079              -         (1,071,754)
34. Cebu Port Authority 279,133 53,867            333,000             70,022          117,668              108,008            295,698             37,302         11,937              25,365              25,365
35. Light Rail Transit Authority           1,307,635          173,472         1,481,107           174,756          211,809           2,709,139          3,095,704       (1,614,597)        (1,614,597)           30,245        (1,584,352)
36. Mactan-Cebu Int'l. Airport Authority 595,065 5,500            600,565           217,080          273,138              108,400            598,618               1,947              623                1,324                1,324
37. Manila International Airport Authority 4,385,667 148,607         4,534,274           716,785       1,330,466           2,222,317          4,269,568            264,706         84,705             180,001             180,001
38. Philippine National Railways              115,800          118,890            234,690           383,745          104,130              859,431          1,347,306       (1,112,616)        (1,112,616)          135,834           (976,782)
39. Philippine Ports Authority           4,459,480          228,340         4,687,820           780,070          870,090           1,754,970          3,405,130         1,282,690          1,282,690          1,282,690
NATIONAL ECO. DEVELOPMENT AUTHORITY                    120          14,310            14,430            26,820           18,445                2,698             47,963 #           (33,533)                -              (33,533)          19,129              -              (14,404)
40. Philippine APEC Study Center Network              c/
41. Philippine Institute for Development Studies                    120           14,310             14,430             26,820            18,445                 2,698              47,963            (33,533)             (33,533)           19,129             (14,404)
OTHER EXECUTIVE OFFICES        80,028,882   20,680,120   100,709,002       8,346,447      9,764,094       49,481,890      67,592,431 #     33,116,571      513,368      32,603,203     5,644,340     460,048      38,707,591
42. Al Amanah Islamic Investment Bank of the Phil.              107,952             2,100            110,052             29,518            61,780                    700              91,998             18,054              18,054              18,054
43. Bases Conversion Development Authority              638,000           72,000            710,000             99,000          302,000              260,000            661,000             49,000              49,000              49,000
44. Cagayan Economic Zone Authority                 5,000                  -                 5,000             16,988            31,943               12,691              61,622            (56,622)                -               (56,622)           48,374        10,048                1,800
45. Cultural Center of the Philippines                77,830             3,100             80,930             95,000          201,273            296,273          (215,343)           (215,343)          188,964             (26,379)
46. Development Bank of the Philippines         12,889,921       1,047,019       13,936,940        2,057,347       1,999,130           8,130,893        12,187,370         1,749,570       150,000          1,599,570          1,599,570
47. Government Service Insurance System         41,399,931     18,270,469       59,670,400        2,499,161       1,983,140         18,836,569        23,318,870       36,351,530        36,351,530        36,351,530
48. Home Guaranty Corporation                                     1,291,438          148,755         1,440,193           325,668          139,850              121,080            586,598            853,595       298,758             554,837             554,837
49. National Food Authority         17,024,078          252,856       17,276,934        1,477,260       2,707,118         17,694,831        21,879,209       (4,602,275)        (4,602,275)          988,993        (3,613,282)
50. National Home Mortgage Finance Corporation           4,015,662             7,823         4,023,485           187,266          452,371           4,137,141          4,776,778          (753,293)           (753,293)       2,107,094      450,000          1,803,801
51. National Housing Authority              391,928          394,869            786,797           502,455          236,238               29,218            767,911             18,886              18,886       2,233,930          2,252,816
52. Philippine Center for Economic Development                 7,934               7,934               1,100              6,200                    480                7,780                  154                   154                   154
53. Philippine Charity Sweepstakes Office 1,187,728 404,326         1,592,054 572,992 1,202,377 57,464          1,832,833          (240,779)           (240,779)           (240,779)
54. Philippine Retirement Authority 95,451 5,574            101,025 9,055 18,685 3,460              31,200             69,825 20,560              49,265              49,265
55. Public Estates Authority              542,356             9,114            551,470           271,496          145,579                      -              417,075            134,395         40,186              94,209              94,209
56. Southern Philippines Development Authority                96,251             3,345             99,596             41,451            15,643               90,629            147,723            (48,127)             (48,127)           35,000             (13,127)
57. Technology and Livelihood Resource Center              257,315           48,495            305,810           130,490          225,187              106,734            462,411          (156,601)           3,864           (160,465)           (160,465)
58. Zamboanga City Special Eco. Zone Authority                    107           10,275             10,382             30,200
           35,580
                     -                65,780              (55,398)                -               (55,398)           41,985               (13,413)
GRAND TOTAL      253,596,667   49,066,469   302,663,136     27,354,934    35,547,876     226,096,391    288,999,201 #     13,663,935      720,604      12,943,331   11,253,813     988,178      25,185,322
                               
NOTES:
a/  LBP - excludes amount accruing to the Agrarian Reform Fund
b/  PNOC- total expenses includes share of subsidiaries in Interest Expense and Commitment Fees of P1,558,756
          hence, net income of PNOC-own excluding share of subsidiaries is P497.335M
c/  No Submission