List of GOCCs based on COA
Al-Amanah Islamic Investment Bank of the Philippines (ISLAMIC BANK) Bangko Sentral ng Pilipinas (BSP) Bases Conversion Development Authority (BCDA) Cebu Ports Authority (CPA) Clark Development Corporation (CDC) Cottage Industry Technology Center (CITC) Center for International Trade Expositions and Missions (CITEM) Cultural Center of the Philippines (CCP) Development Academy of the Philippines (DAP) Development Bank of the Philippines (DBP) DBP Data Center, Inc. (DCI) Duty Free Philippines Employees' Compensation Commission (ECC) Food Terminal Incorporated (FTI) Government Service Insurance System (GSIS) Home Development Mutual Fund (Pag-IBIG) Home Guaranty Corporation (HGC) Laguna Lake Development Authority (LLDA) Land Bank of the Philippines (LBP) Light Rail Transit Autority (LTRA) Livelihood Corporation (LIVECOR) Local Water Utilities Administration (LWUA) Lung Center of the Philippines (LCP)
SEE COMPLETE LIST HERE The Senate is set to investigate the alleged excessive bonuses and other perks received by several officials of government owned and controlled corporations (GOCC). The probe, scheduled Tuesday next week, will be conducted by the Senate finance committee under Sen. Franklin Drilon. "[The] finance committee would like to look at the magnitude of these anomal(ies) and abusive allowances," Drilon said Tuesday. Invited to attend the hearing as resource persons are representatives from the Commission on Audit, Department of Budget and Management, and Office of the Executive Secretary.
Non-performing GOCCs At least two senators, meanwhile, recommended the closure of GOCCs that fail to help ease the budget deficit and instead, eat up the revenue of the government. Senate President Juan Ponce Enrile and Senator Teofisto Guingona III said that it's time to scrutinize these GOCCs because the government shoulders some of their "carrying costs" even though not all of them help ease the country's financial problems. "It’s time to take a look at them, rationalize, and close down those that are a burden to Philippine society. It’s time to stop the abuses," Guingona said during the meeting of the finance committee. Enrile likewise said that since the government is suffering from a scarcity of funds, it must "trim down" its expenditures. "It is time that we scrutinize each one of them especially those that have been eating up the revenue of government when they are not doing anything," he said.
Republic Act 7656 requires GOCCs to declare and remit at least 50 percent of their annual net earnings as cash, stock or property dividends to the national government.
Non-compliance Drilon explained that many GOCCs fail to remit to the nation's coffers. "As much as P47 billion are not made available to the coffers, which adds to deficit," he said. Drilon said this doesn't even include the revenue of trust funds, like the Pag-IBIG Fund, the Social Security System (SSS) and the Government Service Insurance System (GSIS). He said these funds become the source for the many "fat bonuses" of the board of directors and employees of GOCCs. "These funds are placed in different pockets of government … beyond the scrutiny of government." President Benigno "Noynoy" Aquino III had earlier revealed that the board of trustees of the Metropolitan Waterworks and Sewerage System (MWSS) received millions in perks and allowances, including extra bonuses and even grocery provisions. Senator Ralph Recto had also earlier revealed that the bonuses, salaries, overtime pay, and consultancy fees of state-run Power Sector Assets and Liabilities Management Corporation (PSALM) are being passed on to the clients of the National Power Corporation (Napocor).
— RSJ/KBK, GMANews.TV 
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