Press Release
May 11, 2011


During the Bicameral hearing to discuss the Government-Owned and Controlled Corporations (GOCC) Governance Act, Senator Edgardo J. Angara sought the exemption of research and development institutions from the coverage of the bill.

Senate Bill 2640 seeks to establish central monitoring and supervision to promote transparency in the management of GOCCs.

"Government think tanks and research institutes must be excluded because by their nature, they do not fit into the category sought to be covered by the bill--this bill comprehends GOCCs that are geared towards business or regulation," he explained.

Research-oriented companies, institutes and foundations should be classified into the same category as the State Universities and Colleges, he said, because these are already exempted.

"It is always better to leave research institutions as standalone bodies, independent and without too many bureaucratic restrictions. This is the essence of research--freedom to think, freedom to explore and freedom to pursue. Wrapping them up in all of this red tape might stifle their initiatives," he asserted.

Angara said that there should be a distinction between GOCCs that focus on business and regulations and research institutions. Putting the latter under the bureaucratic processes of this bill could stifle research initiative and innovation.

According to Angara, vice-chair of the Senate Finance Committee and chair of the Senate Committee on Science and Technology, the data generated by these agencies are invaluable in policy and decision making for both private and government companies.

After a brief debate, the members of the House and Senate panels agreed on a new provision for the proposed bill: That R&D Institutions shall be excluded provided that at least one-third of their Board of Directors shall be appointed by the President from the nominees of the GCG or the Governance Commission for GOCCs.

News Latest News Feed