Wednesday, October 4, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

Govt plans to revamp GOCCs

Gabrielle H. BinadaybyGabrielle H. Binaday
August 22, 2016, 11:55 pm
in Business
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

The government plans to overhaul the operations of government-owned and -controlled corporations by stripping them of commercial functions, Finance Secretary Carlos Dominguez III said Monday.

Dominguez said the government was looking at splitting the commercial and regulatory functions of several GOCCs, including the National Food Authority, and continue the privatization of government’s power assets handled by Power Sector Assets and Liabilities Management Corp.

“We will continue the privatization program, particularly in PSALM where the [energy] assets are. So we’re also making a big push in privatization,” Dominguez told reporters at the sidelines of the inter-agency Development Budget Coordination Committee hearing at the House of Representatives. 

Finance Secretary Carlos Dominguez III

Dominguez denied reports the government might abolish NFA.  “That has been discussed and still under discussion. It’s not abolition of NFA. It’s separating the commercial from regulatory functions,” Dominguez said.

Cabinet Secretary Leoncio Evasco Jr. earlier said he would recommend to President Rodrigo Duterte the abolition of NFA, National Irrigation Administration and National Electrification Administration. 

Evasco said NFA might be turned into pure regulatory body, after incurring a P167-billion debt. He said NEA was also causing trouble to hundreds of electric cooperatives.

Dominguez said the government should be involved only in regulatory functions and dispose off commercial functions.

The Finance Department earlier said it planned to unload more properties for privatization, including United Coconut Planters Bank and Philippine Postal Bank in three years.

Dominguez said the government also planned to privatize casinos and the Philippine Amusement and Gaming Corp., which handles regulations of the gaming industry and the operation of state-owned casinos.

“I am sure those will be under consideration, also the banks that we still have,” Dominguez said.

The government also runs the LandBank of the Philippines, the country’s third largest lender by assets, and the Development Bank of the Philippines, one of the ten largest banks.

Dominguez earlier opposed the plan to merge the two state-owned banks.

Tags: Carlos Dominguez IIIFinance SecretaryGOCCsgovernment-owned and -controlled corporationsNational Food AuthorityNFAPower Sector Assets and Liabilities Management Corp.PSALM
ADVERTISEMENT
Gabrielle H. Binaday

Gabrielle H. Binaday

Related Posts

IMF slashes PH growth forecast to 5.3%

byJulito G. Rada
October 3, 2023, 9:50 pm
0
8
Philippine economy plays catch-up

The International Monetary Fund on Tuesday cut its 2023 growth forecast for the Philippines to 5.3 percent from the 6.2-percent...

Read more

Foreign tourists in PH surpassed 4m in 9 months

byOthel V. Campos
October 3, 2023, 9:45 pm
0
8
Sunlight Air takes flight into new era: Relocates to NAIA Terminal 4 for elevated travel experience

International Tourism receipts reached P344 billion from January to September this year, as arrivals topped the 4-million mark, Department of...

Read more

Uy’s PH Resorts Group in talks with AppleOne as Cebu casino investor

byJenniffer B. Austria
October 3, 2023, 9:35 pm
0
8
Uy’s PH Resorts Group in talks with AppleOne as Cebu casino investor

Resorts Group Holdings Inc., a company led by businessman Dennis Uy, is in talks with Cebu-based property developer AppleOne Properties...

Read more

PSE approves Metro Pacific’s delisting after tender offer

byJenniffer B. Austria
October 3, 2023, 9:30 pm
0
8
PSE approves P8-b stock rights offering of DITO CME; Figaro Coffee postpones IPO to January 2022

The Philippine Stock Exchange (PSE) said Tuesday it approved the delisting of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC). The...

Read more

DHSUD opens celebration of National Shelter Month

byManila Standard
October 3, 2023, 9:25 pm
0
8
DHSUD opens celebration of National Shelter Month

The Department of Human Settlements and Urban Development (DHSUD) opened this year’s celebration of the National Shelter Month, highlighting President...

Read more

ODA loans, grants to PH hit $32.4b in 2022

byJulito G. Rada
October 3, 2023, 9:20 pm
0
8
Makati Shangri-La reopens, starts accepting bookings

Active official development assistance (ODA) loans and grants to the Philippines amounted to $32.40 billion in 2022 as the government...

Read more

Print Edition

View More

Recent Posts

  • ‘Medusa’ leaks PhilHealth data
  • LTFRB OKs 1-peso provisional hike for base fares only starting Oct. 8
  • Gilas averts collapse, nips Iran; faces host China in Asian Games semis
  • DA ready to lift rice price cap on PBBM’s call
  • DOLE: Companies shun K-12 grads, still hiring college-level workers
  • Antipolo pupil dies 2 weeks after ‘slapping’
  • Inflation still Pinoys’ top concern, Pulse Asia survey in Sept. reveals
  • BFAR: Intel funds to aid WPS work

Advertisement

Latest News

Antipolo pupil dies 2 weeks after ‘slapping’

byManila Standard
October 4, 2023, 1:05 am
0
8
Southwoods nails Seniors’ Fil golf crown

A Grade 5 student in Antipolo, Rizal has died, around two weeks after he was allegedly slapped by his teacher,...

Read more

Inflation still Pinoys’ top concern, Pulse Asia survey in Sept. reveals

byJulito G. Rada
October 4, 2023, 1:00 am
0
8
PCG man dies amid rescue try in La Union

Elevated inflation, which has affected consumer demand over the past few months, is still the top concern of Filipinos, according...

Read more

BFAR: Intel funds to aid WPS work

byAFP
October 4, 2023, 12:35 am
0
8
PH resupplies Ayungin anew

THE Bureau of Fisheries and Aquatic Resources (BFAR) on Tuesday welcomed a congressional decision to augment its budget by reallocating...

Read more

Rep. Hagedorn passes away, 77; Solons mourn

byRio N. Araja
October 4, 2023, 12:30 am
0
8
Rep. Hagedorn passes away, 77; Solons mourn

PUERTO PRINCESA CITY, Palawan—Edward S. Hagedorn, Palawan 3rd District congressman and former mayor of Puerto Princesa City, died on Tuesday,...

Read more

Signal No. 2 over Batanes for ‘Jenny’

byRio N. Araja
October 4, 2023, 12:25 am
0
8
‘Jenny’ seen becoming typhoon by Monday

Tropical Cyclone Wind Signal (TCWS) No. 2 is still hoisted over Batanes as Typhoon Jenny moves north northwestward over the...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App