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GCG RECEIVES OUTSTANDING ACCOUNTING OFFICE AWARD FOR 2018

29 November 2019
04:59:00 PM

GCG reaps Outstanding Accounting Office Award. The Association of Government Accountants of the Philippines, Inc. (AGAP), conferred the Governance Commission for GOCCs (GCG) with the Outstanding Accounting Office Award for year 2018 on 23 October 2019. AGAP awarded GCG for having exemplary met the criteria of Accuracy, Timeliness, Reliability and Compliance to Accounting Rules and Regulatio...

PRRD LIMITS THE PERFORMANCE-BASED INCENTIVE RATES FOR GOCC BOARD OF DIRECTORS

20 June 2019
03:11:06 PM

The Office of the President has approved the revised Interim Performance Based Incentive (PBI) System for the Appointive Directors of Government Owned or Controlled Corporations (GOCCs), as proposed by the Governance Commission for GOCCs (GCG), setting the limits and the conditions on its grant. The grant of the incentive was previously suspended following President Duterte’s directive to s...

GCG RECEIVES 8888 HOTLINE CERTIFICATE OF COLLABORATION

12 October 2018
10:46:16 AM

(Released on 12 October 2018) Hotline 8888 Head of Operations Presenting the Certificate of Collaboration to GCG General Counsel (L-R) GCG Director Irving V. Occeña, GCG Commissioner Marites Cruz-Doral, GCG Chairman Samuel G. Dagpin, Jr., GCG General Counsel Michael D. Pabalinas, Hotline 8888 Head of Operations Atty. Erich Josef Ting, OCS-STAR Usec. Dale S. Cabrera, OCS-STAR PSO Gayle...

GCG ISSUES CLARIFICATION ON GCG MEMORANDUM CIRCULAR NO. 2018-02

03 September 2018
05:56:31 PM

(Released on 03 September 2018) The Governance Commission clarifies that GCG Memorandum Circular (M.C.) No. 2018-02 was issued to revoke GCG M.C. No. 2013-03 (Re-Issued) after its evaluation that the revoked M.C. contained provisions and processes that unnecessarily impede the timely approval and implementation of government projects. The GCG regularly reviews its existing circulars and policies...

GCG DIRECTS DUTY FREE TO ADDRESS COA FINDINGS

06 July 2018
12:26:41 PM

(Released on 06 July 2018) The Governance Commission for GOCCs (GCG) has sought the explanation of Duty Free Philippines Corporation (DFPC) on the FY 2017 findings of the Commission on Audit (COA). The DFPC is likewise directed to address said COA findings under the Performance Evaluation System (PES) of the GCG, which requires GOCCs to present concrete and time-bound action plans for addre...

GCG STRENGTHENS ITS COMMITMENT TO PDP 2017-2022

25 April 2018
11:20:17 AM

(Released on 25 April 2018) The Governance Commission has reviewed the mandates of 12 GOCCs in relation to competitive neutrality issues, as part of its commitment to the Philippine Development Plan (PDP) 2017-2022. Among the 12 is the Philippine Amusement and Gaming Corporation (PAGCOR) which the GCG has recommended to President Rodrigo Roa Duterte for separation of commercial and regulatory fun...

GCG PROPOSES AMENDMENTS TO THE COMPENSATION OF GOCC BOARDS

12 January 2017
12:08:51 PM

(Released on 12 January 2017) Prior to the statement of Socioeconomic Planning Secretary Ernesto M. Pernia on the proposed cap on the salaries and bonuses of Government-Owned and –Controlled Corporation (GOCC) officials, regular employees and staff, the GCG has already been undertaking a study, in consultation with the Department of Finance (DOF) and the Department of Budget and Management...

GCG ADOPTS AN INTERIM FREEDOM OF INFORMATION MANUAL

29 November 2016
10:19:15 AM

(Released on 29 November 2016) The Governance Commission for GOCCs (GCG) has adopted an Interim Freedom of Information Manual to guide and assist the GCG and the public in dealing with requests of information. The Interim FOI Manual of GCG was signed and issued on 25 November 2016 following the issuance in 23 July 2016 of Executive Order No. 2 on Freedom of Information. Designed to accommodate r...

GCG BAGS MOST OUSTANDING ACCOUNTING OFFICE AWARD

25 October 2016
10:57:59 AM

(Released on 25 October 2016) Representatives of the nineteen (19) agencies conferred with the Most Outstanding Accounting Office Awards for 2015 posing with AGAP National President Gregorio C. Rulloda and DBM Secretary Benjamin E. Diokno.   The Governance Commission for GOCCs (GCG) was awarded Most Outstanding Accounting Office for 2015 by the Association of Government Accountants...

GOVERNANCE COMMISSION ISSUES CLARIFICATION ON GOCC HOLDOVERS

04 August 2016
10:39:19 AM

(Released on 31 July 2016) In reference to the news article of Mr. Prinz Magtulis entitled "GOCC holdovers step down today" published on 31 July 2016 in The Philippine Star. The Governance Commission appreciates the vigilance of the media especially on the selection and nomination process for GOCC Appointive Directors. Nevertheless, we would like to clarify some points raised in the new...

GOCCs AWARDED FOR EXCELLENCE ON CORPORATE GOVERNANCE SCORECARD

01 July 2016
01:51:08 PM

5 GOCCs received an Award for Excellence on the Corporate Governance Scorecard (CGS) for the GOCC Sector this June. The Governance Commission, in partnership with the Institute of Corporate Directors (ICD) established the CGS to raise the Corporate Governance standards and practices of GOCCs to be at par with the ASEAN state-owned enterprises. Established on 08 October 2015, the Corporate Governa...

54 GOCCS REMIT P 40.2-B TO NATIONAL TREASURY

23 May 2016
04:08:19 PM

Government-Owned or-Controlled Corporations (GOCCs) once again posted remittances during the last GOCC Day or ceremonial turnover of dividends under the administration of President Benigno S. Aquino III. 50[1] GOCCs, led by their respective Chairpersons and Chief Executive Officers, handed over checks to President Aquino in a simple ceremony at the Rizal Hall in Malacañan Palace today. The...

QUESTIONS & ANSWERS on the WHISTLEBLOWING WEB PORTAL OF THE GOVERNANCE COMMISSION

28 April 2016
01:23:05 PM

      Q: Why is there a Revised Whistleblowing Policy for the GOCC Sector? A: The Whistleblowing Policy, launched in 2014, is revised in order to strengthen the policy especially on the confidentiality of Whistleblowing Reports, and the anonymity of the whistleblower (unless he/she waives this privilege). In the revised Policy a new reporting channel is added –the Whistleblow...

WHISTLEBLOWING WEB PORTAL FOR GOCCs LAUNCHED

28 April 2016
01:11:09 PM

The Governance Commission for GOCCs launched the GCG Whistleblowing Web Portal (www.whistleblowing.gcg.gov.ph) in an effort to provide a more accessible, reliable, and efficient channel for submitting red flags in the GOCC Sector. Senate President Franklin M. Drilon served as keynote speaker during the launch, and expressed his support towards good governance initiatives in the public sector. The...

QUESTIONS & ANSWERS on the COMPENSATION and POSITION CLASSIFICATION SYSTEM (CPCS)

28 March 2016
01:02:58 PM

Q: What is the CPCS? Why do GOCCs have it? A: The CPCS is one of the major human capital management reforms in the GOCC Sector towards bringing the Filipino people world class public service. Prior to the Aquino Administration, compensation of certain GOCCs exempted from the Salary Standardization Law (SSL) was set by the Board of Directors of each GOCC with no uniform framework for the Sect...

COMPENSATION SYSTEM FOR GOCCs APPROVED

28 March 2016
12:44:23 PM

President Benigno S. Aquino III has approved the Compensation and Position Classification System (CPCS) for GOCCs through Executive Order No. 203, standardizing compensation and benefits in all GOCCs under the jurisdiction of the Governance Commission for GOCCs (GCG). The issuance of E.O. 203 was mandated under Rep. Act No. 10149 (The GOCC Governance Act of 2011), which directed the GCG to undert...

QUESTIONS & ANSWERS on the TURNOVER OF UNITED COCONUT PLANTERS BANK (UCPB) TO THE GOVERNANCE COMMISSION FOR GOCCS (GCG)

21 March 2016
09:43:46 AM

Q: How did UCPB become a GOCC? A:  In Philippine Coconut Producers Federation, Inc. (COCOFED), et al. v. Republic of the Philippines,[1] the Supreme Court (SC) declared that the so-called Farmers’ shares, which comprise the original 64.98% UCPB shares, and the converted 753,848,312 SMC Series 1 Preferred Shares, are conclusively owned by the Republic, and affirmed with modification i...

GCG SAFEGUARDS STATES INTERESTS IN UCPB

21 March 2016
09:38:41 AM

Pending the effectivity of the Supreme Court’s Temporary Restraining Order (TRO) against the privatization of the United Coconut Planters Bank (UCPB), the Governance Commission will begin regulating UCPB as a GOCC pursuant to the “GOCC Governance Act of 2011” (R.A. No. 10149). UCPB was originally under the supervision of the Presidential Commission on Good Government (PCGG) pu...

QUESTIONS & ANSWERS on the APPROVED MERGER OF LAND BANK OF THE PHILIPPINES (LANDBANK) AND DEVELOPMENT BANK OF THE PHILIPPINES (DBP)

22 February 2016
02:13:30 PM

Q: What is the Governance Commission’s reason for proposing the merger of Landbank and DBP? A: The consolidation of DBP and LBP is necessary as the functions or purposes of both banks duplicate and/or unnecessarily overlap with one another, which is one of the standards for implementing a merger under R.A. No. 10149.       Also, the consolidated entity will be more...

PRESIDENT AQUINO APPROVES MERGER OF LANDBANK AND DBP

22 February 2016
02:02:20 PM

(released 12 February, 2016) President Benigno S. Aquino III signed on February 4, Executive Order 198 approving the merger of Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP). The merger aims to strengthen the two state-owned banks in fulfilling their mandate of providing banking services to drive countryside development and contributing to the country&r...

QUESTIONS & ANSWERS on the PRIVATIZATION OF THE INTERCONTINENTAL BROADCASTING CORPORATION (IBC-13)

25 January 2016
11:41:50 AM

Q: Why should the State own a television broadcasting company? A: A state-owned broadcaster ensures supply of free-to-air broadcasting for the public regardless of ability or willingness to pay. It also ensures that the public is provided with welfare-enhancing programs balanced against programs driven purely by advertising and business motives.       In 2013, the state-...

PRESIDENT AQUINO APPROVES PRIVATIZATION OF IBC-13

25 January 2016
11:41:38 AM

President Benigno S. Aquino III has approved the privatization of Intercontinental Broadcasting Corporation (IBC-13) based on the recommendation of the Governance Commission for GOCCs (GCG). IBC-13 started out in 1960 as a private company known as Inter-Island Broadcasting Corp., and then was sequestered by the Presidential Commission on Good Government (PCGG) in 1986 as part of the recovery of...

BETTER GOVERNANCE IN GOCC SECTOR SEEN

25 January 2016
11:31:00 AM

(released 25 November, 2015) Finance Secretary Cesar V. Purisima noted the improvements in the GOCC Sector four years into the GOCC Governance Act of 2011. Citing the improvements in the Sector in terms of setting performance standards and streamlining the number of GOCCs, Secretary Purisima congratulated the Governance Commission for GOCCs (GCG) during its anniversary celebration of R.A. No. 1...

49 GOCCS REMIT P 36.85-B TO NATIONAL TREASURY

27 May 2015
04:36:21 PM

(released 13 May, 2015) Government-Owned or-Controlled Corporations (GOCCs) continue to post robust remittances to the national treasury according to the Governance Commission for GOCCs (GCG). The GOCC sector handed over checks totaling P36.85 billion to President Benigno S. Aquino III in a simple ceremony entitled “2015 GOCC Day” at the Rizal Hall in Malacañang Palace today....

GOCC 2014 OPERATING SUBSIDIES AND PROGRAM FUNDS

27 January 2015
09:52:01 AM

See the complete details of the 2014 GOCC Operating Subsidies and Program Funds here.  

QUESTIONS & ANSWERS on the ABOLITION OF PHILIPPINE NATIONAL OIL CORP. (PNOC) AND PHILIPPINE NATIONAL CONSTRUCTION CORP. (PNCC) SUBSIDIARIES

22 October 2014
10:44:00 AM

Q: What are the reasons for abolishing a GOCC? A: Under Section 5(a) of R.A. No. 10149, the GCG shall be guided by any of the following standards for the abolition to evaluate the performance and to determine the relevance of a GOCC: The functions or purposes for which the GOCC was created are no longer relevant to the State or no longer consistent with the national development policy of the S...

PRESIDENT AQUINO APPROVES CLOSURE OF 7 NONPERFORMING GOCCs

22 October 2014
10:39:15 AM

More nonperforming and dormant GOCCs have been abolished as President Benigno S. Aquino III approved last August the closure of seven GOCCs following the recommendation of the Governance Commission for GOCCs (GCG), which is the primary regulatory agency for the country’s GOCCs. Under Republic Act 10149, the law which created it, the GCG is mandated to evaluate the performance of GOCCs and de...

GCG IS ISO CERTIFIED

29 August 2014
11:44:39 AM

The Governance Commission for Government-Owned and Controlled Corporations (GCG) achieved its quality management system certification based on ISO 9001:2008 Standards last July 4, 2014 from TUV Rheinland Philippines, Inc. GCG began working in January 2014 towards the ISO 9001:2008 certification of all of its processes, namely: (1) corporate policies and standards development, (2) corporate govern...

GCG RECEIVES SILVER TRAILBLAZER AWARD FOR PERFORMANCE GOVERNANCE

05 August 2014
11:42:01 AM

The Institute for Solidarity in Asia (ISA), a non-government organization advocating good governance as a shared responsibility, conferred the Governance Commission for GOCCs (GCG) last June 6, 2014 with the Silver Trailblazer Award for accomplishing the Compliance Stage in ISA’s program for institutionalizing its Performance Governance System (PGS). The PGS program consists of four stages:...

GCG SET TO START SECOND YEAR OF MONITORING PERFORMANCE OF GOCCs

25 July 2014
12:14:21 PM

The Governance Commission for GOCCs (GCG) is set to start the second annual Performance Agreement Negotiations (PAN) with GOCC Boards beginning August 2014. This requires GOCCs to make strategy maps and performance commitments for CY 2015 on how they will achieve breakthrough results and contribute to the President’s development agenda through their respective mandates. The PAN embodies one...

GOCCs TRAIN FOR CORPORATE REPORTING SYSTEM PORTAL

25 June 2014
11:54:33 AM

The Governance Commission for GOCCs (GCG) has moved closer to its landmark goal of institutionalizing transparency and accountability in the GOCC sector. The GCG which was created last June 2011 to oversee and regulate the public corporate sector is preparing to launch its Integrated Corporate Reporting System (ICRS), a sector-wide uplink of crucial data and information on all GOCCs. When launche...

GOCCs REMIT P 32.31-B TO NATIONAL TREASURY

09 June 2014
05:22:11 PM

The number of Government-Owned-or Controlled Corporations (GOCCs) that remit earnings, or dividends, to the national coffers continue to increase according to the Governance Commission for GOCCs (GCG). In simple rites held this morning, chairpersons and chief executive officers of various GOCCs personally handed remittance checks to President Benigno S. Aquino III in a ceremony marking GOCC Day a...

GCG MARKS THIRD YEAR AS OVERSEER OF GOCC SECTOR

09 June 2014
04:27:50 PM

The Governance Commission for GOCCs (GCG) marked its third anniversary celebrations today as the central advisory body that monitors and oversees Government-Owned or Controlled-Corporations (GOCCs). Foremost among these were issues of unregulated bonuses and salaries granted by GOCC boards to their executives and directors as well as charges of graft and corruption in other GOCCs....

GCG LAUNCHES GOCC WHISTLEBLOWING POLICY SYSTEM

09 June 2014
04:19:06 PM

The rising crusade against corrupt government officials and employees got another boost today with the launching of a whistleblowing system against corrupt officials and workers within Government –Owned-or-Controlled Corporations (GOCCs). In a short ceremony, the Governance Commission for GOCCs (GCG) officially launched a new memorandum circular that allows the forwardin...

NON-PERFORMING AND UNNECESSARY GOCCs ABOLISHED

03 March 2014
01:20:00 PM

In the last quarter of 2013, President Benigno S. Aquino III already approved the abolition of five (5) of the 19 GOCCs proposed for abolition in House Bill 3807 by Representatives Rufus Rodriguez and Maximo Rodriguez, namely: National Agribusiness Corp. (NABCOR), Zamboanga del Norte Rubber Estate Corp. (ZREC), Human Settlements Dev’t. Corp. (HSDC), Philippine Forest Corp. (PFC), and Cottage...

PRESIDENT AQUINO APPROVES ABOLITION OF PDAF-LINKED GOCCS

30 January 2014
11:12:38 AM

President Benigno S. Aquino approved last month the abolition of three non-performing GOCCs following the recommendation of the Governance Commission for GOCCs (GCG), which is mandated to regulate the country’s GOCCs. The three GOCCs are Philippine Forest Corporation (PFC), ZNAC Rubber Estate (ZREC), and the National Agri-Business Corporation (NABCOR). The recommendation for their abolition...

GCG RESPONSE TO THE COA REPORT ON GOCC ALLOWANCES

19 January 2014
11:00:00 AM

We are holding this press conference pursuant to the commitment undertaken by GCG to report on the final responses of the GOCCs and the Commission’s own evaluation on the news item that covered the COA report that various GOCCs granted unauthorized allowances, bonuses and benefits amounting to P2.313 billion. The process undertaken by GCG leading to this afternoon’s proceedings were t...

GOVERNANCE COMMISSION DIRECTS GOCCs TO ADDRESS COA

15 January 2014
04:50:00 PM

The Philippine Daily Inquirer today published an article entitled “Return bonuses, gov’t execs told. COA issues order to 31 GOCCs.” The news item was based on a 4-month old COA report wherein it was observed that various GOCCs granted unauthorized allowances, bonuses, and benefits amounting to P2.313 billion. GCG had actually reviewed the COA reports and discussed the findings w...

DAP implements program to develop Governance Committee

02 August 2012
05:55:00 PM

A stronger GCG foundation: (seated L-R) DAP-GSPDM Dean Gloria Jumamil-Mercado, GCC Raoul C. Creencia, GCG Chairman Cesar L. Villanueva and DAP President Antonio D. Kalaw, Jr. pose with the GCG executives who successfully completed the Executive Development Program. Pasig City---To further strengthen its foundation, the newly created Governance Commission on Government-owned-and-controlled Corpor...

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