Losing govt company told to lower goals

The Commission on Audit (COA) asked the Northern Foods Corp. (NFC) to be conservative in its estimate and to wisely estimate its target to save cash and prevent products from spoilage.

State auditors wanted the government-owned and -controlled corporation in the Ilocos region to be prudent in their production target, considering that they left a P2.6- million expense on top of a four-year losing streak in sales.