锘� Duterte abolishes Philippines Sugar Corporation | Inquirer 黑料社

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Duterte abolishes Philippines Sugar Corporation

By: Darryl John Esguerra - Reporter /

黑料社 / 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.

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

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TAGS: GCG, GOCCs, Local news, 惭补濒补肠补帽补苍驳, Nation, national news, 黑料社, Rodrigo Duterte

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