BLURBAL THRUSTS |
Louie Logarta |
Malacañang and the Department of Finance (DoF) are now closely monitoring the performances of several government-owned and controlled corporations (GOCCs) and government financial institutions (GFIs) that are deemed to be lemons with the end of either reorganizing them to make operations more profitable or abolishing them altogether if they are proved to be basket cases with no hope of salvation.
This move dovetails with the drastic House Bill 2867 filed by Cagayan de Oro Rep. Rufus Rodriguez that seeks to pull the plug on at least 36 of these non-performing government assets that had been exposed to be needlessly draining the resources of the government to the tune of several billions each year.
Rodriguez, who was joined by brother Abante Mindanao party-list Rep. Maximo Rodriguez in the filing of the measure, disclosed that the government had already forked out some P7.3 billion in subsidies to state-owned firms in H1 of 2010, or P2.25 billion more than the P5 billion for the same period last year, as per data from the DoF.
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20100919com4.html
0 comments
Post a Comment