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    Posted March 2, 2014 by
    omeroscar
    Location
    Manila

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    Abolition of 19 GOCCs in Phl sought

     
    TWO Philippine lawmakers on Sunday called for the abolition of some 19 Government Owned and Controlled Corporations (GOCCs) and Government Financial Institutions (GFIs) to remove excess fat.
    Authored by Rep. Rufus Rodriguez of Cagayan de Oro City and Partylist Rep. Maximo Rodriguez, House Bill 3807 mandates the abolition of certain GOCCs and GFIs with provisions for separation pay for its officers and employees.
    "Consistent with the Aquino administration's austerity measures, it is high time that the government removes the excess fat and spends only for things that are truly vital to the country," the authors declared.
    Under the bill, those proposed for abolition Banaue Hotel and Youth Hostel; Batangas Land Company, Incorporated; BCDA Management and Holdings, Incorporated; 4) Cottage Industry Technology Center; 5) Freeport Service Corporation; GY Real Estate, Incorporated; Human Settlements Development Corporation; Kamayan Realty Corporation; Marawi Resort Hotel, Incorporated;
    Masaganang Sakahan, Incorporated; National Agribusiness Corporation; Natural Resources Development Corporation; NDC-Infrastructure Corporation; Northern Foods Corporation; Philippine Aerospace Development Corporation; Philippine Convention and Visitors Corporation; Pinagkaisa Realty Corporation; Trade and Investment Development Corporation of the Philippines; and ZNAC Rubber Estate Corporation.
    Under HB 3807, all officers and employees of these to-be-abolished GOCCs and GFIs would be given two and a half (2 ½) months salary for each year of service in their respective GOCCs and GFIs as separation pay, funding of which shall be included in the subsequent national budget.
    Likewise, the functions and duties of the proposed to-be-abolished entities are to be transferred to the different Departments of the government exercising the same or similar functions. The Department of Finance, the Department of Budget and Management and the Commission on Audit shall issue the necessary rules and regulations necessary for the full implementation of the proposed statute.
    Rodriguez noted that the government has around 120 GOCCs and GFIs, many of which are unnecessary, underperforming and losing. However, he added, taxpayers are still paying for their expenses and their officers' and employees' salaries.
    "This is aside from the P7.28 billion that the government extends to these state-owned subsidiaries as subsidies from January to May, or P2.25 billion more than the P5.03 billion recorded in the same period in 2013," the authors revealed.

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