The Governance Commission has approved the request of the Duty-Free Philippines Corp. (DFPC) to defer the application of the Implementing Rules and Regulation (IRR) to its restructuring plan (RP) for 60 days from 15 March 2023.
The GCG reminds that while it approves the deferral, this may have a negative effect on the status of DFPC given its limited fiscal space.
The request was made to enable DFPC to prepare for the transition to a new organizational structure and staffing pattern.
“The Governance Commission understands that DFPC may need more time given that the restructuring plan may have certain repercussions in policies and core operations,” Chairperson Justice Alex L. Quiroz said.
“GCG takes into consideration the input of the employees’ union and other government agencies concerned. The deferment will be granted to give way to a streamlined transition that will be beneficial to all concerned,” Quiroz added.
Under Section 5(a) of Republic Act No. 10149, the GCG is mandated to ascertain whether a GOCC should be reorganized, merged, streamlined, abolished, or privatized, in consultation with the department or agency to which the GOCC is attached.
The GCG remains steadfast in its mandate as the central advisory, oversight, and monitoring body for GOCCs, to institutionalize transparency, accountability, financial viability, and responsiveness in corporate performance by monitoring and evaluating GOCCs’ performance.
