GOCCs

By Prinz Magtulis (The Philippine Star), March 28, 2016 MANILA, Philippines – Higher revenue contributions and less subsidies marked last year’s financial performance by government-owned and -controlled corporations (GOCCs), data from the Bureau of the Treasury showed.

The Aquino administration has put a cap on the total amount of compensation package that goes to top honchos of government-owned and -controlled corporations (GOCCs).

An agency overseeing the compensation in government-owned and -controlled corporations (GOCCs) said the Commission on Audit (COA) had not issued a final notice of disallowance to 31 GOCCs that gave a total of P2.313 billion in bonuses and allowances to executives and employees in 2012.

COA issues order to 31 GOCCs Officials and employees of 31 government-owned and -controlled corporations (GOCCs) have been ordered to refund the government all bonuses and allowances totaling P2.313 billion whose payment in 2012 was deemed unauthorized by the Commission on Audit (COA).

MANILA, Philippines – The Sandiganbayan has ordered the arrest of 13 former officials of the Development Bank of the Philippines (DBP) for allegedly granting behest loans to a private firm owned by businessman Roberto Ongpin in 2009.

MANILA – State subsidy to government owned or controlled corporations (GOCCs) jumped in June because of a huge increase in the financial support given Philhealth.

MANILA, Philippines – The 2011 list of government’s top earners is quite different from 2010. The Philippine Amusement and Gaming Corp (Pagcor) chairman used to top it. Not anymore.

The head of water regulating agency Metropolitan Waterworks and Sewerage System (MWSS) rebutted allegations from disgruntled MWSS employees of continued anomalies in the agency saying that employees are protesting after the removal of their “illegal allowances” which the Commission on Audit (CoA) disallowed.

EMPLOYEES CHARGE CIRCUMVENTION OF NEW GOCC LAW Like paved roads that did not take long to be pockmarked with holes after the incessant rains, President Aquino’s straight path mantra had proven to be all hype as employees of the Metropolitan Waterworks and Sewerage System (MWSS) charged yesterday that appointees of Aquino had continued with the…

Contrary to what President Aquino has been trumpeting as his administration denying officials of state agencies fat allowances and bonuses, the Commission on Audit (CoA) in a recent report said officials of the Philippine International Convention Center Inc. (PICCI) which runs the state-owned Philippine International Convention Center (PICC) are receiving “irregular” per diems and reimbursable…

MANILA, Philippines – The Aquino administration is reviewing the compensation structure for heads and executives of government-owned and controlled corporations (GOCCs) who sit in various private corporations in their capacity as GOCC executives, a ranking official said.

Administrations come and go but so far none of them has realized that not all government policies and programs have to be changed every time a new regime takes over. As happened before and still happening now, it seems that every administration is of the belief that upon taking over, there is an entirely new…

The Supreme Court (SC) has voided the Retirement Financial Plan (RFP) of the state pension fund agency Government Service Insurance System (GSIS).

Support for a House bill seeking to abolish 36 underperforming government-owned and -controlled corporations (GOCCs) and government financial institutions (GFIs) has snowballed, with business groups saying that House Bill 2867 will remove if not lessen the rent-seeking behavior among state firms.

MANILA, Philippines – Officials of the Philippine Economic Zone Authority (PEZA) defended yesterday the agency’s disbursement of P93.65 million for the salary increases of its officers and employees from June to December last year.

More than 12,000 employees of Philippine Postal Corp. in 2,000 different post offices nationwide are calling on Malacañang to act on their delayed salaries and benefits. Tirso Paglicawan Jr., president of the Philippine Postal Workers Union said that last May 1, 2011 a manifesto was sent by the union to the office of the President…

Manila, Philippines – House Minority Leader and Albay Rep. Edcel Lagman has challenged before the Supreme Court the legality of Republic Act 10149 or the GOCC Governance Act of 2011 signed by President Aquino last month. Lagman said “scandalously huge salaries, allowances and perks” of some government-owned and controlled corporations (GOCCs) “should not be tolerated…

MANILA, Philippines — The Aquino administration is looking at slashing its subsidies to government owned and controlled corporations (GOCCs) next year by almost half of this year’s programmed budget.

Military and police officers must not be appointed to sensitive posts in government, according to party-list lawmakers.

PRESIDENT Benigno Aquino 3rd on Monday signed into law the Government-Owned and Controlled Corporations Governance Act of 2011 that seeks to reform the operations of GOCCs by curbing the excesses in the pay and perks of its officials.

BECAUSE of the greed and insensitivity of many of the lucky few Filipinos who have been made officers and board members of government owned and controlled corporations (GOCCs), the public pressured their lawmakers to pass a law to prevent GOCCs from being made a milking cow by their officials.

MAR LIKELY TO BE CHAIRMAN, PURISIMA, ABAD TO SERVE IN GCG BODY With the creation, now by law, of a body that is to oversee policies and supervise the government-controlled corporations, the Balay group of losing vice presidential candidate, former Sen. Manuel “Mar” Roxas, appears to have assumed even more power than before.

MANILA, Philippines – Malacañang said yesterday that the Government-Owned and Controlled Corporation Governance Act of 2011 that President Aquino signed into law was a “milestone and the first important law” under the current administration.

ALL government-appointed chief executives, board members and trustees in 157 state companies will lose their jobs on June 30, and those without replacements will continue only in a hold-over capacity under a law that President Benigno Aquino III will sign today.

MANILA, Philippines –  President Aquino signed into law yesterday the bill standardizing the salaries and bonuses of executives in government-owned and controlled corporations (GOCCs), Malacañang said over the weekend.

Issues of constitutional infirmities hound the administration-backed government-owned and controlled corporation (GOCC) reform bill, Sen. Joker Arroyo yesterday said, even as President Aquino’s key ally in the Senate expressed confidence the newly-approved legislation can withstand constitutional scrutiny.

The Manila Economic and Cultural Office (Meco), the country’s de facto embassy office in Taiwan, will not be covered by the proposed law overseeing supervision of government-owned and -controlled corporations (GOCCs) due to possible diplomatic and political repercussions.

The congressional bicameral conference committee yesterday approved a bill creating a body that would oversee the operations of government-owned and controlled corporations (GOCCs).

The Senate and the House of Representatives on Wednesday approved a Malacañang priority legislation, the proposed government-owned and controlled corporation governance act, which sets a one-year term for all-appointive executives of state corporations and prevent GOCC board members from awarding themselves with fat allowances and bonuses.

MANILA, Philippines – The government is expected to save about P118 million or about 47percent of total compensation that board members of of government-owned and -controlled corporations (GOCCs) and government financial institutions (GFIs). have been receiving annually with the issuance of Executive Order No. 24.