ASEAN KEY DESTINATIONS
Aquino to abolish obsolete agencies
The Department of Budget and Management said the country’s economic managers have agreed to form a technical working group (TWG) that would look into the financial performance of each GOCC and government financial institution (GFI).
The DBM said that even those state firms that have their own charters would also be covered by the review and assessment of the TWG.
At present, the country has 158 GOCCs. Including water districts, the number would rise to 736.
The TWG would be organized by virtue of an executive order that would come out this week.
The key component of the proposed order is the reactivation of the Government Corporate Monitoring and Coordination Committee (GCMCC) or a similar centralized entity whose functions include reviewing the performance of GOCCs.
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