GCG fast-tracks evaluation of 2 more GOCCs

Posted at 02/01/2014 6:13 PM

PNoy approves closure of 3 GOCCs linked to pork scam

MANILA -- President Aquino has approved the abolition of three government-owned and -controlled corporations (GOCCs) linked to the pork barrel scandal.

The Governance Commission for GOCCs (GCG) said the Philippine Forest Corporation, ZNAC Rubber Estate (ZREC) and National Agri-Business Corporation (NABCOR) were seen to have ceased to perform their mandated functions.

In a statement, deputy presidential spokesperson Abigail Valte said the decision to abolish these agencies was based on financial viability and relevance to national development plans.

GCG spokesperson Atty. Paolo Salvosa told ANC on Saturday that based on a review they conducted since 2011 before the Senate pork barrel probe, Philippine Forest Corporation had a minimal social impact in developing forest industry and was also involved in programs mired in corruption.

He said ZREC also ceased to perform despite having a P3-million net income in 2011, adding some of its revenues were found to be sourced from pork barrel allocations.

NABCOR, meanwhile, registered a net loss of P42 million in 2011.

Salvosa said the commission has fast-tracked the evaluation of two other GOCCs -- the Technology Resource Center and the National Livelihood Development Corporation.

Former CEOs of the three GOCCs and several of their employees are facing charges for alleged links to the pork barrel scam.

Salvosa said a technical working group has been created to wind down the agencies' operations, transfer funds and functions to other agencies, and assess the separation pay of employees. -- ANC