A SENATE committee has approved the proposed P210.8-million budget of the Governance Commission on Government-owned and -controlled corporations (GCG) for 2024, including an additional P168.4 million to hire new employees and upgrade its technological capabilities.
Addressing Wednesday’s Senate finance committee hearing, GCG Director Johann Carlos S. Barcena said the additional P168.4 million would also cover the cost of international conferences on corporate governance, upgrading its information communication technology (ICT) capabilities, and implementation of its priority projects.
“The ICT component of the GCG’s budget was a major reduction in agency’s budget last year and we’re requesting for an additional budget,” said Mr. Barcena. “We would still be able to perform our mandate (despite a cut in the ICT budget) but the extent and level to which we can perform the same would of course be diminished.”
Under the 2024 proposed National Expenditure Program, the GCG was given P210.8 million, which is half of its P421.6 million it had last year to oversee the operations of GOCCs. — John Victor D. Ordoñez
