The Governance Commission for GOCCs (government-owned and –controlled corporations) or GCG is targeting to reduce the number of state-run firms to 85 by 2020, from 98 currently, under a rationalization program.

The number will be cut to 94 starting next year, said Cesar Villanueva, chairman of the GCG that acts as a central advisory, monitoring, and oversight body with the authority to formulate, implement and coordinate policies among state-owned firms.

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