A governance commission urged the abolition of the government-owned companies and corporations (GOCCs) involved with the P10-billion pork barrel scam, formally known as the Philippine Development Authority Fund (PDAF).
In a statement, the Governance Commission on GOCCs (GCG) said that five GOCCs were involved in the misuse of the PDAF which were: the National Agribusiness Corporation (Nabcor), Zamboanga del Norte College Rubber Estates Corp. (ZREC), Technology Resources Center (TRC), National Livelihood Development Corp. (NLDC) and Philippine Forest Corporation (PFC).
“To date, GCG has completed its study and recently submitted to the Office of the President its recommendation to abolish ZREC and NABCOR, and is already in the process of submitting its recommendation on the abolition of PFC. The commission has also accelerated its evaluation of NLDC and TRC,” GCG said.
The five GOCCs was involved with the PDAF scam from 2007 to 2009, and accounted an estimate of P3.43 billion total net worth.
“The use of the GOCCs for projects funded by PDAF were also among the reasons for recommending abolition, aside from their redundancy with other agencies and lack of financial viability,” the GCG said.
Under the mandate GOCC Governance Act of 2011, the policy-making GCG is directed by President Benigno Aquino 3rd to monitor and evaluate such GOCCs for “possible abolition or privatization” way back in the end of 2012. KRISTYN NIKA M. LAZO