Aquino signs GOCC Governance Act of 2011
President Benigno S. Aquino III signed into law Republic Act 10149 or the Government-Owned and Controlled Corporations (GOCC) Governance Act of 2011 that aims to promote financial viability and fiscal discipline in GOCCs and strengthen the role of the State in its governance and management to make them more responsive to the needs of the Filipino people.
In simple ceremonies on Monday at the President’s Hall of the Malacanang Palace, the Chief Executive signed the landmark measure in the presence of Senate President Juan Ponce Enrile, House Speaker Feliciano Belmonte Jr., other high-ranking government officials and GOCC officials.
In keynoting the event, the President expressed gratitude to his fellow government officials in the Senate and the House of Representatives for pushing such law that will restructure the GOCCs into more efficient entities centered on public service.
“Walang duda, ang GOCC Governance Act ay isang makasaysayang batas na naipasa ng ating administrasyon sa loob lamang ng maikling panahon… aayusin nito ang istraktura ng GOCC upang matuldukan ang pang-aabuso at pag-mamalabis sa mga operasyon nito,” the President said.
“Sa bisa ng batas na ito, tiwala tayong uunlad ang ating GOCCs at may malaking mai-aambag ito sa pagtataas ng antas ng pamumuhay ng mga Pilipino,” he added.
President Aquino further said that the new measure would create an oversight body to be referred to as the GOCC Commission on Governance (GCG), to be headed by a cabinet secretary. It will also monitor the work efficiency and performance of the GOCC personnel through an Objective Performance Evaluation System and the conduct of periodic assessments.
The GCG chairman can also conduct special audits on specific GOCCs to check its latest financial status.
R. A. 10149 also entails all GOCCs to create and maintain their own website that will be open for public viewing containing their financial statements and other pertinent information the GCG would require.
“Upang maging mas bukas at malinaw ang mga ito sa taumbayan, maaring magsagawa ang GCG chairman ng isang special audit sa alin mang GOCC para sa mga particular na hangarin. Lahat ng GOCCs ay kailangan din magpanatili ng isang website na bukas sa publiko. Maaaring makita dito ang pinakahuling financial statements, corporate operating budget, summary of borrowings at mga impormasyong hinihingi ng GCG”, explained the President.
The President noted that the GCG will gain basis in assessing the performance of GOCCs for possible changes, closure or privatization of such government corporations.
“Sa lahat ng ito, may kakayahan ang GCG na suriin ang ipinamalas na kapasidad ng GOCC at magkaroon ng batayan kung karapat-dapat ba na baguhin, pagsamahin, isara o isapribado ang mga korporasyon”, the President said.
The Commission on Governance shall also be responsible for the determination of the compensation, per diems, allowances, and bonuses of the members of the board of directors or trustees of the GOCCs.
It will be composed of the Budget secretary as chairman, the Secretary of Finance, director-general of the National Economic and Development Authority (NEDA) and two others to be chosen by the top three.
Present during the signing ceremonies were Senate Committee on Finance Chairman Franklin Drilon, Senate Majority Floor Leader Vicente Sotto III, Executive Secretary Paquito Ochoa Jr., Budget and Management Secretary Florencio Abad, Presidential Spokesperson Edwin Lacierda, Presidential Communications Development Strategic Planning Office Secretary Ramon Carandang and United Kingdom Ambassador to the Philippines Stephen Lillie.
In the Senate, the new act was principally authored and sponsored by Senator Franklin Drilon, Chairman of the Senate Committee on Finance along with Senators Ralph Recto, Edgardo Angara, Serge Osmena III, Manuel Villar and Alan Peter Cayetano, all members of the Senate Panel in the Bicameral Conference Committee.
On the part of the House of Representatives, the measure was principally authored by Speaker Belmonte, sponsored by Representative Joseph Emilio Aguinaldo Abaya and co-authored by Representatives Neptali Gonzales II, Jocelyn Limkaichong, Romeo Acop, Susan Yap, Henedina Abad, Magtanggol Gunigundo I, Edcel Lagman and Danilo Suarez. (PCOO)
Aquino lauded for signing GOCC Governance Act of 2011
President Benigno S. Aquino III was lauded for signing into law Republic Act 10149 or the Government Owned and Controlled Corporations Governance Act of 2011 that seeks to reform the operations of state-owned enterprises and to curb the perceived abuses particularly on excessive bonuses and allowances of its officials.
Senator Franklin Drilon, chairman of the Senate Finance Committee and principal author and sponsor of the landmark measure, extolled the Chief Executive saying that the new law would set the framework for reforms in a major sector of the economy. He also expressed confidence that this would harness GOCCs to perform effectively and efficiently to contribute to national development.
“We must exact transparency and accountability from our public officials, who have not faithfully discharged their duties as managers of public enterprises designed to contribute to national progress,” Drilon said.
The newly-approved legislation largely tracks President Aquino’s reform agenda and anti-corruption campaign.
The new measure will create a GOCC Commission on Governance (GCG) which shall be composed of five members as follows--- chairman with the rank of Cabinet secretary and two members with the rank of undersecretary to be appointed by the President ---and the Budget and Finance secretaries as ex-officio members.
The GCG shall develop a new position and classification system that will apply to all officers and employees of GOCCs, whether covered by the Salary Standardization Law or exempt from it.
Members of the board of directors or trustees and officers of state firms have the legal obligation to act in good faith in all dealings with the property and monies of the GOCC.
Any board member or officer found to have benefited from the GOCC excess benefit or profit shall be subject to restitution without prejudice to any administrative, civil or criminal case.
The new measure is expected to be effective 15 days after its publication or by July 1, 2011.
The President signed the new legislation in simple ceremonies on Monday at the President’s Hall of the Malacanang Palace in the presence of Senate President Juan Ponce Enrile, House Speaker Feliciano Belmonte Jr. and other high-ranking government officials and heads of GOCCs. (PCOO)
Aquino lauds school building project of the Filipino-Chinese Chambers of Commerce
President Benigno S. Aquino III thanked the Federation of Filipino Chinese Chambers of Commerce and Industry, Incorporated (FFCCCII) for partnering with government efforts to provide education for all Filipinos through their school building project.
The FFCCCII presented to the President a scale model of a two-storey two classroom school building representing their donation of 454 units to the government’s education program during oath taking ceremonies of the newly elected officials of the Federation in Malacañang on Monday.
The President said the school building donation was a “commitment” of the Filipino-Chinese community to improve the country’s progress and spur economic growth.
“Such commitment to this country is further manifested by the 454 buildings of two-classroom buildings you are symbolically turning over today. I am hopeful that these 454 buildings are just the beginning of a long and fruitful cooperation,” the President said.
He added that the donation would greatly help the government attain its goal of constructing 11,926 classrooms and that with further help from the FFCCCII, “we can build even more than that.”
“Our vision is to give our youths an environment in which they can focus on their lessons without being distracted by droplets of water leaking from the ceiling; classrooms where they can listen attentively to their teachers without having to jostle with their classmates for space,” the President said.
“We are optimistic that these acts of philanthropy of yours will continue,” he added.
He lauded the FFCCCII for being aware of their moral obligations and for having “taken upon your shoulders the challenging task of rebuilding this nation.”
“You are laying down the foundations of our future, the bedrock upon which our children will give rise to a Philippines stronger than ever before,” the President said.
“You have displayed a love for your country reminiscent of our greatest Chinese-Filipino heroes, such as Ignacio Paua, Vicente Lim, or even St. Lorenzo Ruiz. And I am grateful that you have continued this long-standing and historic tradition of heroism,” he added. (PCOO)
Aquino urges Filipino to vote and help Puerto Princesa Underground River win spot in New 7 Wonders of Nature
President Benigno S. Aquino III urged all Filipinos here and abroad to vote and support the country’s pride, the Puerto Princesa Underground River (PPUR), as one of the finalists in the global search for the New 7 Wonders of Nature.
The President made the pitch right after he signed the proclamation order urging all national government agencies, local government units, students and even overseas Filipino workers to join hands in the aggressive voting campaign thru internet and SMS (short messaging system).
In his speech, the President said if the 80 million Filipino cellular phone users participate in the campaign the PPUR has a big chance to win in the competition that would help spur the country’s tourism and create thousands of job opportunities to the people.
“As of now, the country has no less than 80 million Filipino cellular phone users. All we need is 1 billion votes,” President said as he cited the almost 2 million texts recorded by the leading telecommunication companies in their daily operations.
As more Filipinos are now actively using internet as another tool in communication, the President urged them to vote the Philippine environment at www.new7wondersofnature or simply text PPUR15 to 2861.
“We can help Puerto Princesa, as well as the entire Philippines, if we vote PPUR to have spot in the international search for the new 7 wonders of nature,” he said.
During the program, Bernard Webber, president and founder of the New 7 Wonder of Nature, officially designated Puerto Princesa as one of the 28 finalists for the new 7 wonder of nature category.
Renowned as the world’s longest underground river, Puerto Princesa Underground River features a stunning limestone karst mountain landscape, impressive cave systems, impressive stalactites and stalagmites formations, lush old growth tropical rain forest and interesting wildlife.
The subterranean river spans 8.2 kilometers long and flows beneath stalactites and stalagmites formation.
The Underground River beat 440 other contenders to be one of the 28 finalists for the New 7 Wonders of Nature Campaign. The voting period will end on November 10 and winners will be announced on the following day (November 11). (PCOO)
Ochoa: GOCC law strengthens fiscal prudence and discipline in governance
Executive Secretary Paquito N. Ochoa Jr. said on Monday that the GOCC Governance Act of 2011 institutionalizes the administration's policy for fiscal prudence and discipline in government-owned and -controlled corporations (GOCCs) and government financial institutions (GFIs) that will protect public coffers and ensure delivery of social services to the people.
Ochoa said the enactment of the GOCC Governance Act of 2011 or Republic Act 10149, which President Benigno Aquino III signed on Monday, ushers in a new era of running the affairs of the state in terms of fiscal discipline.
"The President certified this measure as urgent because he wants GOCCs and GFIs to remain true to their purpose that of earning additional income for government coffers. Such income can be used to fund government programs and projects for our people rather than being used for excessive pay and perks and benefits of GOCC and GFI officials and personnel," Ochoa said.
"The passage of the GOCC Governance Act of 2011 is a significant milestone as this is the first Republic Act signed into law by the President as chairman of the Good Governance and Anti-Corruption Cluster," the Executive Secretary noted.
Ochoa explained that while the Chief Executive had earlier issued Executive Order No. 24 to rein in the excessive pay and perks of GOCC and GFI executives, the new law puts in place regulations that ensure that compensation rates for board members and trustees will be reasonable.
Ochoa underscored the crucial role GOCCs and GFIs play as tools for economic growth and development, and with the new law, their operations will be aligned with the national policies and program, and their assets and resources used efficiently.
"The impact of this measure will be felt not only during this administration but also in the years to come. This represents the kind of far-reaching governance reforms the President is resolved to implement during his term," Ochoa said.
Under the new law, the Governance Commission for GOCCs (GCG) will be created attached to the Office of the President to serve as an advisory, monitoring and oversight body.
Among GCG's key responsibilities are to evaluate the performance and relevance of the state firms, and reorganize, merge and streamline the operations and structures of the GOCCs. It can also recommend the abolition or privatization of any state-owned company.
The GCG is also tasked to conduct a compensation study and develop a Compensation and Position Classification System and Fit and Proper Rule to maintain the quality of management of the GOCCs and GFIs.
"We intend to make the governance of GOCCs and GFIs carried out in a transparent, responsible and accountable manner and with utmost degree of professionalism and efficiency," Ochoa said. (PCOO)
President Benigno S. Aquino III signed into law Republic Act 10149 or the Government-Owned and Controlled Corporations (GOCC) Governance Act of 2011 that aims to promote financial viability and fiscal discipline in GOCCs and strengthen the role of the State in its governance and management to make them more responsive to the needs of the Filipino people.
In simple ceremonies on Monday at the President’s Hall of the Malacanang Palace, the Chief Executive signed the landmark measure in the presence of Senate President Juan Ponce Enrile, House Speaker Feliciano Belmonte Jr., other high-ranking government officials and GOCC officials.
In keynoting the event, the President expressed gratitude to his fellow government officials in the Senate and the House of Representatives for pushing such law that will restructure the GOCCs into more efficient entities centered on public service.
“Walang duda, ang GOCC Governance Act ay isang makasaysayang batas na naipasa ng ating administrasyon sa loob lamang ng maikling panahon… aayusin nito ang istraktura ng GOCC upang matuldukan ang pang-aabuso at pag-mamalabis sa mga operasyon nito,” the President said.
“Sa bisa ng batas na ito, tiwala tayong uunlad ang ating GOCCs at may malaking mai-aambag ito sa pagtataas ng antas ng pamumuhay ng mga Pilipino,” he added.
President Aquino further said that the new measure would create an oversight body to be referred to as the GOCC Commission on Governance (GCG), to be headed by a cabinet secretary. It will also monitor the work efficiency and performance of the GOCC personnel through an Objective Performance Evaluation System and the conduct of periodic assessments.
The GCG chairman can also conduct special audits on specific GOCCs to check its latest financial status.
R. A. 10149 also entails all GOCCs to create and maintain their own website that will be open for public viewing containing their financial statements and other pertinent information the GCG would require.
“Upang maging mas bukas at malinaw ang mga ito sa taumbayan, maaring magsagawa ang GCG chairman ng isang special audit sa alin mang GOCC para sa mga particular na hangarin. Lahat ng GOCCs ay kailangan din magpanatili ng isang website na bukas sa publiko. Maaaring makita dito ang pinakahuling financial statements, corporate operating budget, summary of borrowings at mga impormasyong hinihingi ng GCG”, explained the President.
The President noted that the GCG will gain basis in assessing the performance of GOCCs for possible changes, closure or privatization of such government corporations.
“Sa lahat ng ito, may kakayahan ang GCG na suriin ang ipinamalas na kapasidad ng GOCC at magkaroon ng batayan kung karapat-dapat ba na baguhin, pagsamahin, isara o isapribado ang mga korporasyon”, the President said.
The Commission on Governance shall also be responsible for the determination of the compensation, per diems, allowances, and bonuses of the members of the board of directors or trustees of the GOCCs.
It will be composed of the Budget secretary as chairman, the Secretary of Finance, director-general of the National Economic and Development Authority (NEDA) and two others to be chosen by the top three.
Present during the signing ceremonies were Senate Committee on Finance Chairman Franklin Drilon, Senate Majority Floor Leader Vicente Sotto III, Executive Secretary Paquito Ochoa Jr., Budget and Management Secretary Florencio Abad, Presidential Spokesperson Edwin Lacierda, Presidential Communications Development Strategic Planning Office Secretary Ramon Carandang and United Kingdom Ambassador to the Philippines Stephen Lillie.
In the Senate, the new act was principally authored and sponsored by Senator Franklin Drilon, Chairman of the Senate Committee on Finance along with Senators Ralph Recto, Edgardo Angara, Serge Osmena III, Manuel Villar and Alan Peter Cayetano, all members of the Senate Panel in the Bicameral Conference Committee.
On the part of the House of Representatives, the measure was principally authored by Speaker Belmonte, sponsored by Representative Joseph Emilio Aguinaldo Abaya and co-authored by Representatives Neptali Gonzales II, Jocelyn Limkaichong, Romeo Acop, Susan Yap, Henedina Abad, Magtanggol Gunigundo I, Edcel Lagman and Danilo Suarez. (PCOO)
Aquino lauded for signing GOCC Governance Act of 2011
President Benigno S. Aquino III was lauded for signing into law Republic Act 10149 or the Government Owned and Controlled Corporations Governance Act of 2011 that seeks to reform the operations of state-owned enterprises and to curb the perceived abuses particularly on excessive bonuses and allowances of its officials.
Senator Franklin Drilon, chairman of the Senate Finance Committee and principal author and sponsor of the landmark measure, extolled the Chief Executive saying that the new law would set the framework for reforms in a major sector of the economy. He also expressed confidence that this would harness GOCCs to perform effectively and efficiently to contribute to national development.
“We must exact transparency and accountability from our public officials, who have not faithfully discharged their duties as managers of public enterprises designed to contribute to national progress,” Drilon said.
The newly-approved legislation largely tracks President Aquino’s reform agenda and anti-corruption campaign.
The new measure will create a GOCC Commission on Governance (GCG) which shall be composed of five members as follows--- chairman with the rank of Cabinet secretary and two members with the rank of undersecretary to be appointed by the President ---and the Budget and Finance secretaries as ex-officio members.
The GCG shall develop a new position and classification system that will apply to all officers and employees of GOCCs, whether covered by the Salary Standardization Law or exempt from it.
Members of the board of directors or trustees and officers of state firms have the legal obligation to act in good faith in all dealings with the property and monies of the GOCC.
Any board member or officer found to have benefited from the GOCC excess benefit or profit shall be subject to restitution without prejudice to any administrative, civil or criminal case.
The new measure is expected to be effective 15 days after its publication or by July 1, 2011.
The President signed the new legislation in simple ceremonies on Monday at the President’s Hall of the Malacanang Palace in the presence of Senate President Juan Ponce Enrile, House Speaker Feliciano Belmonte Jr. and other high-ranking government officials and heads of GOCCs. (PCOO)
Aquino lauds school building project of the Filipino-Chinese Chambers of Commerce
President Benigno S. Aquino III thanked the Federation of Filipino Chinese Chambers of Commerce and Industry, Incorporated (FFCCCII) for partnering with government efforts to provide education for all Filipinos through their school building project.
The FFCCCII presented to the President a scale model of a two-storey two classroom school building representing their donation of 454 units to the government’s education program during oath taking ceremonies of the newly elected officials of the Federation in Malacañang on Monday.
The President said the school building donation was a “commitment” of the Filipino-Chinese community to improve the country’s progress and spur economic growth.
“Such commitment to this country is further manifested by the 454 buildings of two-classroom buildings you are symbolically turning over today. I am hopeful that these 454 buildings are just the beginning of a long and fruitful cooperation,” the President said.
He added that the donation would greatly help the government attain its goal of constructing 11,926 classrooms and that with further help from the FFCCCII, “we can build even more than that.”
“Our vision is to give our youths an environment in which they can focus on their lessons without being distracted by droplets of water leaking from the ceiling; classrooms where they can listen attentively to their teachers without having to jostle with their classmates for space,” the President said.
“We are optimistic that these acts of philanthropy of yours will continue,” he added.
He lauded the FFCCCII for being aware of their moral obligations and for having “taken upon your shoulders the challenging task of rebuilding this nation.”
“You are laying down the foundations of our future, the bedrock upon which our children will give rise to a Philippines stronger than ever before,” the President said.
“You have displayed a love for your country reminiscent of our greatest Chinese-Filipino heroes, such as Ignacio Paua, Vicente Lim, or even St. Lorenzo Ruiz. And I am grateful that you have continued this long-standing and historic tradition of heroism,” he added. (PCOO)
Aquino urges Filipino to vote and help Puerto Princesa Underground River win spot in New 7 Wonders of Nature
President Benigno S. Aquino III urged all Filipinos here and abroad to vote and support the country’s pride, the Puerto Princesa Underground River (PPUR), as one of the finalists in the global search for the New 7 Wonders of Nature.
The President made the pitch right after he signed the proclamation order urging all national government agencies, local government units, students and even overseas Filipino workers to join hands in the aggressive voting campaign thru internet and SMS (short messaging system).
In his speech, the President said if the 80 million Filipino cellular phone users participate in the campaign the PPUR has a big chance to win in the competition that would help spur the country’s tourism and create thousands of job opportunities to the people.
“As of now, the country has no less than 80 million Filipino cellular phone users. All we need is 1 billion votes,” President said as he cited the almost 2 million texts recorded by the leading telecommunication companies in their daily operations.
As more Filipinos are now actively using internet as another tool in communication, the President urged them to vote the Philippine environment at www.new7wondersofnature or simply text PPUR15 to 2861.
“We can help Puerto Princesa, as well as the entire Philippines, if we vote PPUR to have spot in the international search for the new 7 wonders of nature,” he said.
During the program, Bernard Webber, president and founder of the New 7 Wonder of Nature, officially designated Puerto Princesa as one of the 28 finalists for the new 7 wonder of nature category.
Renowned as the world’s longest underground river, Puerto Princesa Underground River features a stunning limestone karst mountain landscape, impressive cave systems, impressive stalactites and stalagmites formations, lush old growth tropical rain forest and interesting wildlife.
The subterranean river spans 8.2 kilometers long and flows beneath stalactites and stalagmites formation.
The Underground River beat 440 other contenders to be one of the 28 finalists for the New 7 Wonders of Nature Campaign. The voting period will end on November 10 and winners will be announced on the following day (November 11). (PCOO)
Ochoa: GOCC law strengthens fiscal prudence and discipline in governance
Executive Secretary Paquito N. Ochoa Jr. said on Monday that the GOCC Governance Act of 2011 institutionalizes the administration's policy for fiscal prudence and discipline in government-owned and -controlled corporations (GOCCs) and government financial institutions (GFIs) that will protect public coffers and ensure delivery of social services to the people.
Ochoa said the enactment of the GOCC Governance Act of 2011 or Republic Act 10149, which President Benigno Aquino III signed on Monday, ushers in a new era of running the affairs of the state in terms of fiscal discipline.
"The President certified this measure as urgent because he wants GOCCs and GFIs to remain true to their purpose that of earning additional income for government coffers. Such income can be used to fund government programs and projects for our people rather than being used for excessive pay and perks and benefits of GOCC and GFI officials and personnel," Ochoa said.
"The passage of the GOCC Governance Act of 2011 is a significant milestone as this is the first Republic Act signed into law by the President as chairman of the Good Governance and Anti-Corruption Cluster," the Executive Secretary noted.
Ochoa explained that while the Chief Executive had earlier issued Executive Order No. 24 to rein in the excessive pay and perks of GOCC and GFI executives, the new law puts in place regulations that ensure that compensation rates for board members and trustees will be reasonable.
Ochoa underscored the crucial role GOCCs and GFIs play as tools for economic growth and development, and with the new law, their operations will be aligned with the national policies and program, and their assets and resources used efficiently.
"The impact of this measure will be felt not only during this administration but also in the years to come. This represents the kind of far-reaching governance reforms the President is resolved to implement during his term," Ochoa said.
Under the new law, the Governance Commission for GOCCs (GCG) will be created attached to the Office of the President to serve as an advisory, monitoring and oversight body.
Among GCG's key responsibilities are to evaluate the performance and relevance of the state firms, and reorganize, merge and streamline the operations and structures of the GOCCs. It can also recommend the abolition or privatization of any state-owned company.
The GCG is also tasked to conduct a compensation study and develop a Compensation and Position Classification System and Fit and Proper Rule to maintain the quality of management of the GOCCs and GFIs.
"We intend to make the governance of GOCCs and GFIs carried out in a transparent, responsible and accountable manner and with utmost degree of professionalism and efficiency," Ochoa said. (PCOO)
