President Benigno Aquino III has approved the abolition of three government-owned and controlled corporations linked to the Priority Development Assistance Fund mess.

Deputy Presidential Spokesperson Abigail Valte said this was in pursuit of maximizing efficiency and promoting accountability, and the decision to abolish them was based on a financial viability and relevance to national development plans study conducted by the Governance Commission for GOCCs.

She noted these GOCCs had been implicated as conduits of fake PDAF allocations. They include: Philippine Forest Corporation; ZNAC Rubber Estate; and National Agri-Business Corporation.

But she added any separation packages will be withheld for those found to have committed graft or other corrupt practices.

Valte also said these GOCCs may not be the last to be abolished.

More GOCCs may be abolished as the GCG fulfills its mandate to rationalize the government-owned and controlled corporations of the country, she said.*PNA

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