The Department of Budget and Management (DBM) earlier said subsidies to GOCCs
mainly went to housing programs, irrigation projects and health insurance.
provided subsidies for the year include: the National Food Authority with P5.
Certainly, the minority shareholders are already susceptible to 'oppression' by majority shareholders in a GOCC
, and to subject their cases to the representation and judgment of the OSG who, under the proposed bills, will act as the lawyer for both the opposing GOCC
and line agency, and at the same time judge, will totally undermine their rights as shareholders," the OGCC pointed out.
He instructed King during the meeting to discuss with officials of the GOCC
the possibility of settling their tax issues out of court.
MC 2013-03 was issued by the GCG to 'balance the principle of operational autonomy in the GOCC
sector with the need for interagency coordination toward paving the way for the convergence of the GOCC
sector and the national government in pursuing inclusive and sustainable economic growth and development.
For example, to instruct a GOCC
to pursue a build-operate-transfer scheme instead of a joint venture, when both options are legal, would be to stymie or substitute a business judgment.
Palace officials may have to define "lavish" not only for the PCSO and other moneymaking GOCCs
but also for all other agencies in the executive branch.
In line with this mandate, the GCG can recommend to the President the abolition or merger of a GOCC
if it finds that it is, say, not doing its assigned work, has outlived its usefulness, or its functions overlap with another GOCC
The Philippine National Oil Company or PNOC is a GOCC
whose usefulness was lost a long time ago.
Otto Energy Philippines chairman Rufino Bomasang said state-owned PNOC-Exploration Corporation is also expected to participate but this "has yet to be firmed up due to some bureaucratic requirements of the GOCC
(government-owned and -controlled corporation).
8 billion, the largest amount of subsidies given to a GOCC
Of this amount, 70 percent is remitted to the Tourism Investment and Enterprise Zone Authority, formerly the PTA, a GOCC
under the DOT, as well.