Senators seek abolition of 23 inactive GOCCs

in News

Published November 16, 2019, 10:56 AM

By Mario Casayuran

Senators have sought the abolition of 23 inactive government-owned or –controlled corporations (GOCCs) to save the national government from coughing up with billions of pesos for their subsidies.

Sen. Sherwin T. Gatchalian
(Senate of the Philippines / MANILA BULLETIN)

But two thirds of the country’s 120 state-run firms remain “financially viable.”

Senators Sherwin Gatchalian, former chairman of the Senate economic affairs committee, and Panfilo M. Lacson, an anti-pork barrel advocate, gave their opinions on the non-performing GOCCs during a Senate floor debate on budgets of various national departments, agencies and offices under the proposed 2020 P4.1 trillion national budget.

The proposed 2020 General Appropriations Bill (GAB) is being defended on the Senate floor by Senator Juan Edgardo ‘’Sonny’’

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