MANILA, Philippines—A bill that seeks to stop the alleged excessive pays and other abuses in Government-Owned and Controlled Corporations (GOCCs) also known as the GOCC Government Act of 2011 has been ratified by the Senate.
Once the bill is ratified in the House of Representatives, it can now be transmitted to President Benigno “Noynoy” Aquino III for signature.
Only Senator Joker Arroyo voted against the bill when it was presented on the floor on Monday for ratification.
He said “certain provisions of the bill suffer from constitutional infirmity.”
Arroyo also described the measure as a “patronage” bill under the guise of reforming the scandalous emoluments in some GOCCs.
“It is a blanket authority for the mass lay-off of 157 CEOs (chief executive officers) and 1,570 directors in the 157 GOCCs,” Arroyo said.
“The CEOs and directors do not have to be informed or removed. All that needs to be done is appoint their successors and pronto they are automatically removed,” he said.
The passage of the bill into law, Arroyo said, would also disregard the tenure and other provisions of the charters of the various GOCCs.
Excluded from the coverage of the law are the Manila Economic and Cultural Office (Meco) and the economic zone authorities.