Duterte abolishes Philippines Sugar Corporation | Inquirer News
Close  

Duterte abolishes Philippines Sugar Corporation

/ 03:10 PM October 29, 2018

President Rodrigo Duterte has ordered the abolition of the Philippine Sugar Corporation (PhilSuCor) through the recommendation of Governance Commission for Government Owned and Controlled Corporations (GCG).

Signed by Executive Secretary Salvador Medialdea on October 25, Duterte issued Memorandum Order 30, ordering the abolition of PhilSuCor.

ADVERTISEMENT

The GCG recommended to Duterte the abolition of PhilSuCor because it is no longer performing its objectives and purposes. The GCG also said that PhilSuCor’s functions overlap with that of the Sugar Regulatory Administration’s (SRA).

PhilSuCor was created in Nov. 14, 1983 under Presidential Decree 1890 primarily to provide financing in the acquisition, rehabilitation, and/or expansion of sugar mills, refineries and other related facilities used in the manufacture, packing, storage, distribution and shipment of sugar and its by-products and derivatives. /je

FEATURED STORIES

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: GCG, GOCCs, Local news, Malacañang, Nation, national news, News, Philippine news update, Philippine Sugar Corporation, Rodrigo Duterte
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.