Congressional oversight should also check GOCC subsidies — Win Gatchalian

Senator Sherwin Gatchalian said the joint congressional oversight committee that would review the national budget should also look into subsidies given to government-owned and controlled corporations (GOCCs). 

This, as the Department of Budget and Management (DBM) issued Corporate Budget Memorandum No. 48, prompting GOCCs, including government financial institutions, to initiate the fiscal year 2027 budget preparation process and outline the requirements for their budget proposals. 

Under the memorandum, GOCCs that have remained heavily dependent on national government budgetary support for the past 10 consecutive years shall also be automatically flagged and may be subjected to mandatory institutional review. 

Gatchalian, who chairs the Senate Committee on Finance, backed the move by the DBM. 

“I strongly support the DBM’s call for fiscal discipline. We need to make a proper assessment of GOCCs that remain on life support from the national government year after year,” the senator said in a statement. 

“The DBM and the Governance Commission for GOCCs must prioritize weeding out non-performing GOCCs. For as long as these GOCCs are active, they can request subsidies, making a significant dent in the national budget,” he added. 

Gatchalian previously said that the Joint Congressional Oversight Committee on Public Expenditures would be activated for the first time to closely monitor the implementation of government projects funded by the 2026 national budget. 

The committee will be composed of panel vice chairpersons from the Senate and House of Representatives. — Giselle Ombay/RSJ, GMA Integrated News