6 GOCCs abolished, 25 others to be scrapped


MANILA, Philippines — Six government-owned and -controlled companies (GOCCs) have been abolished, whereas 25 others are set to endure the identical destiny.

Governance Fee for GOCCs (GCG) Director Johann Carlos Barcena shared this info throughout Friday’s Senate finance subcommittee listening to. The affected GOCCs, nevertheless, weren’t identifed.

“So, out of the 31 GOCCs, Mr. Chair, six have been fully abolished and liquidated, and the 25 remaining GOCCs, Mr. Chair, [are] in numerous phases of liquidation,” Barcena informed Senator Sherwin Gatchalian, who presided over the listening to.

“Liquidation entails essentially the disposition by means of auctions of the belongings of the…

Carry on studying: 6 GOCCs abolished, 25 others to be scrapped

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