GCG seeks to amend charter to strengthen mandate

The Governance Commission for Government-Owned or-Controlled Corporations (GCG) is seeking to amend the law that created it to further strengthen its oversight function on GOCCs.

“In order to efficiently operate as a regulatory body for the GOCC sector, RA 10149 is proposed to be amended to address issues and clarify and strengthen the powers and functions of the GCG,” said GCG chairperson Alex Quiroz.

The GCG was created through Republic Act No. 10149 or the GOCC Governance Act of 2011.

In particular, the GOCC regulatory body is seeking a standardization of the definition of GOCCs. 

The RA 10149 defines GOCCs as any agency organized as a stock or nonstock corporation, vested with functions relating to public needs whether governmental or proprietary in nature, and owned by the government of the Republic of the Philippines directly or through its instrumentalities either wholly or at least majority of its outstanding capital stock.

The GCG is also seeking to fix the terms of office of the GCG chairperson and commissioners and create an office for a GCG executive director.

To strengthen its oversight powers, the GOCC regulatory body is also asking the Congress for subpoena and contempt powers as well as investigative and disciplinary powers.

The GCG is, likewise, seeking authority to consolidate, rationalize, and integrate GOCCs into national government agencies (NGAs). 

Moreover, the regulatory body is eyeing to be granted the authority to determine the appropriate incentive programs for all employees affected by any rationalization, reorganization, merger, consolidation, integration into an NGA, abolition, or privatization of GOCCs.

“We can recommend to the Office of the President that it would be economical for those GOCCs which are not financially viable, but are performing vital public service, to be converted into or transferred to NGAs,” said Quiroz. 

The GCG said there are already draft bills to be submitted to the House leadership.

The agency also submitted its proposed amendments to the Senate in December last year.—AOL, GMA Integrated News