GCG told to improve system GOCC evaluation

The Governance Commission for GOCCs (GCG) should include regulatory agency assessments in evaluating the performance of state-run firms in order to improve its oversight functions and avoid mistakes in the government's policy-making process, according to Finance Secretary Carlos Dominguez 3rd.

In a statement over the weekend, the Department of Finance said Dominguez made the call after noticing multiple instances of "incongruence" between the GCG's assessment of government-owned and controlled businesses (GOCCs) and assessments made by regulatory bodies.