Government to abolish 5 GOCCs this year
The Governance Commission for GOCCs is eyeing to finish this year the process of winding up at least five state-run firms listed for abolition.
The Philippine government plans to abolish five state-run firms this year, as part of efforts to streamline operations and conserve public resources. The Governance Commission for Governance Enterprises (GCG), chaired by Marius Corpus, is currently working to liquidate these companies that have outlived their purpose or are inefficient.
The technical working group, comprising the GCG and other relevant agencies, is deliberating on the specific firms to be targeted. Finance Secretary Frederick Go indicated that approximately 10% of the nearly 100 GOCCs should be closed to optimize resource allocation. As of June 30, 21 firms are categorized as candidates for abolition, spanning a range of sectors like real estate, agriculture, transportation, finance, and energy.
Notable firms under discussion include Alabang-Sto. Tomas Development Inc., AFP Retirement and Separation Benefits System, and Disc Contractors, Builders and General Services Inc. The liquidation process is expected to be complex, but the GCG emphasizes the need to prioritize government interests throughout the procedure. There are 124 active state enterprises across various sectors as of June 2026.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
