GCG to improve fiscal discipline

An official said that through stringent and efficient policy-making, the Governance Commission Government-Owned and -Controlled Corporations sector is looking to improve fiscal discipline and corporate governance.

The new Commission has introduced two main priorities during its administration; a proactive Anti-corruption and Integrity program to safeguard the P10 trillion in total assets of the GOCC Sector and the Implementation of the new Compensation and Position Classification System of GOCCs and re-evaluation of the CPCS.

“We are opening a possibility of filing criminal, civil, or administrative cases against erring officials to prevent dissipation and wastage of funds arising from corruption,” GCG chairperson Alex Quiroz said.

The chairperson is also looking into conducting a special audit of GOCCs in support of the Commission exercising its functions as stipulated in the GOCC Governance Act.

Quiroz said that one of the main challenges the Commission faces is the non-compliance and late submissions of the Sector during performance evaluation.

This has prompted the new leadership to study the use of a show cause order compelling the submission of GOCCs.

“The doctrine of justice delayed is justice denied, so we won’t allow a further delay of action obligated to the GOCCs. We’re adopting measures, schemes, how to make these GOCCs to be transparent. We’re going to digitalize the transactions, open to the public,” Quiroz added.

In September, the Commission’s chief said he would introduce “some dynamics” on safeguarding the national government’s budgetary support.

Quiroz said GCG would adopt measures that would eliminate unnecessary spending by GOCCs.

The chief told the Senate Committee on Finance that the GCG is planning to establish satellite offices to monitor the efficiency of all GOCCs directly.

“We have been thinking to adapt a scheme, if not to eradicate, at least to reduce whatever dissipation that GOCCs have been committing. I am not attributing something, but in short, paglulustay (unnecessary spending). We have to avoid it,” Quiroz added.

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