A glance at some of the gov't corporations

Media

Part of The Republic

Title: A glance at some of the gov't corporations
Language: English
Source: The Republic I (6) 1-31 December 1975
Year: 1975
Subject: Corporations, Government -- Philippines
Rights
Fulltext: I. GOVERNMENT FINANCING CORPORATIONS 1. Central Bank of the Philippine* Established under Republic Act 265 of January 1949 to administer the monetary, banking and credit system of the Philippines. Departments and offices are consolidated in five sectors, each under a Deputy Governor: a) International Operations; b) Domestic Operations; c) Supervision and Examination; d) Re search; and e) Administrative Management. Principal sources of funds are income from foreign exchange, foreign investments, domestic loans and advances, domestic investments and other miscellaneous sources. 2. Development Bank of the Philippines Established primarily to provide credit facilities for rehabilitation, development and expansion of agri culture and industries, the broadening and diversifica tion of the national economy, and to promote the establishment of private development banks in the provinces and cities. Established under RA 2081 ap proved on June 14, 1958, sources of funds are collec tions on loans and investments, collection on guaran tee advances and networth increment. 3. Philippine National Bank In operation since July 22, 1916. It has nine overseas offices, 72 metropolitan and provincial branches, 33 agencies, 23 sub-branches and 32 exten sion offices and units. Its corporate existence, with authorized capital stock ot Pl billion, is provided for under RA 1300 as further amended by Presidential Decree No. 64 dated November 20, 1972 and Presidentail Decree No. 171 dated April 10,. 1973 other wise known as the Revised Charter of the PNB. Has a leading role in the Masagana 99 rice program as financing channel and furnishing the services of its credit technicians. 4. Government Service Insurance System A non-stock corporation with main office in Manila and 14 regional agency or extension offices. Primary objectives are to promote the efficiency and welfare of government employees and to replace the old pension system. Created under Commonwealth Act 186, it was approved on November 14, 1936, and started operation on May 31, 1937. The System administers 5 funds: Life Insurance Fund, Retirement Insurance Fund, Property Insurance Fund, Medicare Insurance Fund, and Pension Fund. GSIS has a massive low-cost housing program. It administers Medicare Funds for the welfare of members of the system. It pays dividends to members twice a year. It is governed by a Board of Trustees with 8 members. 5. Land Bank of the Philippines Created under Republic Act 3844 otherwise known as the Agricultural Land Reform Code of 1963. Its purpose is to finance the acquisition by the government of landed estates for subdivision and resale to tenant fanners. Management is vested in the Board of Trustees composed of a chairman and four members. 6. Social Security System The Social Security System establishes, de velops, promotes and perfects a sound and viable tax-exempt social security service suitable to the needs of the people throughout the Philippines. It provides protection to covered employees and their families against disability, sickness, old age and death, with a view to promoting their well-being in the spirit of social justice. The System was created under RA 1161, the Social Security Act of 1954. Im plementation of the Act was only on September 1, 1957, after it was amended by RA No. 1792, Presi dential Decree Nos. 24 and 177. II. GOVERNMENT PUBLIC UTILITY CORPORATIONS 7. National Power Corporation Created under Commonwealth Act 120 on November 3, 1936, to undertake the development of hydro-electric power and production of electricity from nuclear, geothermal and other sources as well as the transmission of electric power on a nationwide basis for industrial development and rural electrifica tion. Converted into a stock corporation in June 1962 under RA 2641 with initial capitalization of Pl00 million, increased to P250 million in May 1961, and to P300 million in May 1967. 8. Philippine National Railways First known as Manila Railway Company Ltd., an English company, Philippine Government acquired ownership on January 8, 1917. Under Republic Act 4156 of June 20, 1964, PNR acquired all the assets and liabilities. Authorized capital stock was increased to P250 million with P92.5 million government ob ligations converted to subscribed capital stock. RA No. 6366, enacted on August 20, 1971, further in creased the authorized capital stock to P650 million 9. Metropolitan Waterworks and Sewerage System Created under RA 6234 approved on June 19, 1971, which abolished the then National Waterworks and Sewerage Authority (NAWASA). The new law is pursuant to declared policy that the establishment, operation and maintenance of the water works sys tem must be supervised by the state. MWSS has jurisdiction, supervision and control over all waterworks and sewerage systems in the Greater Manila area. 10. Communications and Electricity Development Authority Established in 1957 under RA 2046 as amended by RA 2235 and 4186 with the major objective of full electrification of barrios and rural areas covered by its operation.' 11. Manila Gas Corporation Started operations on September 27, 1912, under a franchise granted by Act 2039 of the Phil ippine Legislature for a 50-year period beginning January 2, 1912. The MGC franchise was extended for another 50-year period by RA 2278 which took effect on June 19, 1959. It has since expanded its services to include distribution of bottled gas to places not reached by pipelines. A glance at . the gov’t corp 111. GOVERNMENT DEVELOPMENTAL AND OTHER CORPORATIONS 12. Philippine Tobacco Administration Created by Republic Act 1135 on June 16, 1953. Primary objectives are: to promote effective merchandising of leaf tobacco in domestic and foreign markets, to conduct research on tobacco and tobacco products, to improve existing methods of manufac ture, to insure permanent and balanced production of tobacco leaves, to create warehousing and marketing facilities, to supervise and control the classifica tion and grading of leaf tobacco, and to improve the living and economic conditions of the laborers en gaged in the tobacco industry. 13. National Grains Authority Created under Presidential Decree No. 4 of Sept. 26, 1972, to encourage, among others, in creased production of rice, corn and other grains, and to promote systems that will improve the quality and reduce the costs of production, processing and marketing of the grains to keep their prices within reach of the common masses. 14. Philippine Coconut Administration Established under Republic Act 1145.PHILCOA aims to insure the steady and orderly development of the coconut industry; stabilize and strengthen its position in the world market; promote the effective merchandising of copra, coconut oil, coconut prod ucts and by-products in domestic and foreign mar kets; improve the relations between coconut proprie tors and tenants; and encourage the invention of useful machinery that will hasten the development of the coconut industry. 15. Philippine Virginia Tobacco Administration Organized in 1960 by RA 2265 to promote the effective merchandising of Philippine Virginia tobacco in domestic and foreign markets; to establish and maintain balanced production and consumption of Virginia tobacco and its manufacturing products; and to improve the living and economic conditions of those engaged in the industry. 16. Fertilizer Industry Authority Created under Persidential Decree 135 which took effect on February 22, 1973, the Fertilizer In dustry Authority helps the Masagana 99 program to procure fertilizer through equal distribution of ferti lizer to the. farmers, regulates the manufacture of fertilizer, controls prices and distribution channels through the manufacturers, and helps fertilizer manu facturers in the importation of raw materials. 17. Greater Manila Terminal Food Market, Inc. GMTFM was formed on April 30, 1968 and was registered with the Securities and Exchange Com mission on May 3, 1968, with the Chairman, members of the Board and the Chief Legal Counsel of-the De velopment Bank of the Philippines, in their individual capacities as incorporators, directors and subscribers of the Corporation. It aims to provide an outlet and distribution system for prime commodities in the country. 18. Cebu Portland Cement Company Incorporated in 1922 by a Mr. Massey for the purpose of engaging in the manufacture, develop ment, exploitation and sale of cement. The Philippine Government took over control and management in 1924. Articles of Incorporation were amended in December 1940 to include the manufacture, develop ment, exploitation and sale of marble and other building materials. In 1964, the Articles of Incor poration were again amended to change the name to CEPOC Industries, Inc. and to enable the cor poration to engage in various activities, among which is coal mining. 19. Philippine Deposit Insurance Corporation Created June 22, 1963, by Republic Act 3591. This was amended by RA 6037, which compels all the country’s banking institutions to insure their liabilities with the PD1C. Presidential Decree 120 issued January 29, 1973, increased the permanent insurance fund of the Corporation from P5 million to P20 million. Its two major objectives are: 1) to protect bank depositors against loss of their deposits; and 2) to instill public trust and confidence in the Philippine banking system. 20. Philippine Charity Sweepstakes Office Formally organized under Legislative Act 4130 enacted October 30, 1934, later amended by Republic Act 1169, which placed the direction and management of sweepstakes and lottery draws under PCSO with the objective of providing money for essential health and welfare activities. THE REPUBLIC 9 Corporations 21. Pamantasan ng Lungsod ng Maynila Established as a government corporation under Republic Act 1965 approved June 19, 1964. Objec tives are to advance human knowledge through basic study and research; to develop the Filipino intellect and promote Filipino welfare; to give professional training in public affairs and in scientific, cultural, technological, industrial and vocational fields; and to introduce in its curricula studies which do not at present receive sufficient emphasis in existing institu tions of higher learning in the country. 22. Philippine Normal College Formerly Philippine Normal School, PNC was created under Act 74 of the Philippine Commission and formally opened on September 1, 1901. This Act underwent various amendments. The latest, Republic Act 6515, authorizes the College to offer advance degree programs. The m^jor objectives are to train teachers as leaders in the community school move ment, for field service, as instructors in regional and normal schools, as specialists in various fields, to render professional service, and to undertake re searches and studies in various fields. 23. National Electrification Administration Ultimate objective is to achieve total electrifica tion of the country. Created by Republic Act 6038 which took effect August 4, 1969. It first started as the Electrification Administration (EA), which was repealed by the same act that replaced it with the NEA. some of •orations 24. National Irrigation Administration Created under Republic Act 3601 which abo lished the Irrigation Division of the Bureau of Public Works. It became a separate entity from the Public Works Bureau on October 1, 1964. Major objectives are to survey, study, improve, construct and adminis ter all national irrigation systems; to survey all possible water resources for irrigation purposes; and to collect from users of each irrigation system such fees as may be necessary to sustain its operation. 25. Laguna Lake Development Authority Began operations on January 1, 1970, with authorized capital stock of Pl00 million divided into 700,000 common shares (voting) and 300,000 pre ferred shares (non-voting), of which 143,000 and 60,000 common shares are subscribed by Rizal and Laguna provinces respectively. The LLDA has led, promoted and accelerated the development and growth of the Laguna Lake Area and the surrounding provinces, cities and towns within the context of the national plans and policies for social and economic development. Also included in its development plan are: tourism, recreation, manpower, infrastructure, social development and land-use program. 26. Export Processing Zone Authority Created under Presidential Decree 66, dated Nov. 20, 1972, converting the Foreign Trade Zone Authority created under RA 5490, into corporate organization under the direct supervision of the Office of the President. Its objectives are to encourage and promote foreign commerce as a means of making the Philippines a center of international trade. 27. Bicol Development Company BIDECO was organized under RA 4690 starting operations on Sept. 29, 1966. Major objectives, among others, are: to implement the approved plans and programs of the National Economic Council (NEC) for the agro-industrial development of the Bicol Region; to formulate plans and programs for the region within the context of national policies and to implement other plans and programs. 28. San Fernando Port Authority Created under Republic Act 4567 which took effect on June 19, 1965, to administer, develop, improve, coordinate and mobilize terminal facilities within the Port District of San Fernando, La Union. 29. Agricultural Credit Administration Created under RA 3844 on Aug. 8, 1963, to align its activities with the requirements and objectives of agrarian reform. The agency was en visioned to assist small farmers in securing liberal credit and to promote the groupings of fanners into cooperative associations to enable them to, market their products and ultimately improve their standard of living. It coordinates and cooperates with the Department of Agrarian Reform as its credit arm and devotes its resources to agrarian reforms. Formerly known as the Agricultural Credit Cooperative Finan cing Administration (ACCFA). 30. Central Luzon-Cagayan Valley Authority Created under RA 3054 on June 17, 1961, to provide irrigation systems for agricultural lands in Central Luzon and Cagayan Valley; to provide elec tricity to home industry; to provide inland navigation and to control floods in these areas. 31. Cultural Center of the Philippines First created under Executive Order 30, series of 1966, as a trust. Under Presidential Decree 15, dated October 5, 1972, the CCP was transformed to a non-municipal public corporation to promote, enhance' and develop Philippine culture. The Center presents cultural shows in association with Geothe House, the British Council, embassies and various Philippine cultural and art groups. It aims to develop artistic talent by way of special assistance to younger artists particularly to enable them to work on art pro jects. A gallery and museum was put up to encourage artists to exhibit their works in groups or in one-man shows. The Center has likewise a library of its collec tion of books on art. The Center holds workshops and conferences and gives scholarships to promising artists. IV. SELF-GOVERNING BOARDS, COMMIS SIONS AND AGENCIES 32. National Cottage Industries Development Authority NACIDA was created under Republic Act 3270, approved June 17, 1962, to encourage the growth and development of cottage industries. With regional institutes throughout the country, its mar keting activities have taken account of the increased demands of foreign buyers for Philippine cottage products. It has participated in international trade fairs, mostly in continental Europe. Acceptance among foreign buyers of Philippine cottage products has been beyond expectations. 33. Board of Investments Created under Republic Act No. 5186 approved on September 16, 1967, to administer and control investment and export incentive plans. BOI is headed by a five-member Board of Governors. It is under the Office of the President. Principal sources of funds are the National Government and a share in the Stahiliza. tion Tax on Exports. 34. Oil Industry Commission Created on April 30, 1971, under HA 6173. Major objectives are, among others, to assure the country of adequate and continuous supply of crude oil and refined petroleum products; to assure the public of reasonable prices, and to induce and effect the, participation of Filipino capital, labor and management. 35. National Science Development Board Set up by the Science Act of 1958 (RA 2067) it coordinates and promotes cooperation in the scientific research and development activities of government agencies and private enterprises, and establishes a system of priorities for scientific and technological projects. NSDB has three organic agen cies: 1) NSDB proper; 2) National Institute of Science and Technology; and 3) Philippine Atomic Energy Commission. The Philippine Inventors Com mission, the Philippine Coconut Research Institute, and the Forest Products Research and Industries Development Commission are attached to the NSDB. 36. Philippine Medical Care Commission Created by Republic Act 6111 to extend medical care to all residents in an evolutionary way within the nation’s economic means and capability, and to provide practical means of helping people to pay for adequate medical care. The Commission has three branches: Administration; Plans and Programs and Service Operations. 37. Philippine Inventors Commission Established under Republic Act 3850, approved April 13, 1964, to provide technical, financial and legal assistance to Philippine inventors. Program in cludes the development of creativeness and the or ganization of inventors’ clubs; publication and dis semination of creative and scientific information thru publication of magazines for the promotion of inventors; assistance to local fabrication of Philippine inventions, and annual celebration of a National Inventors’ Week to encourage inventors to make known their* inventions, and give awards for patented inventions. 38. National Water and Air Pollution Control Commission Created by Republic Act 3931 to maintain reasonable standards of purity for the waters and air of the country to enhance their utilization for domestic, agricultural, industrial and other legitimate purposes. 39. Philippine Atomic Energy Commission PAEC takes charge of the establishment of laboratories for nuclear research training. It conducts or encourages the performance of research and development relating to nuclear processes and tech niques, processes, materials and other radio-active material for commercial, industrial, medical, biolog ical, agricultural or other peaceful purposes. It has five divisions and research centers, and operates eight departments. 40. National Institute of Science and Technology NIST, under the supervision of the National Science Development Board, was established pri marily to implement and conduct scientific and technological research and development; to cooperate with private enterprise in research activities relating to scientific and technological problems of industry, agriculture, medicine, engineering, mathematics and the natural, biological and social sciences; and to conduct studies through its research centers on in dustrial, agricultural, medical, biological and related fields. 41. Metals Industry Research and Development Center Established as a semi-government, semi-private organization under Republic Act 4724 on June 18, 1966. Republic Act 6428 on May 21, 1972, con verted it into a government corporation. Its principal program is scientific and technological promotion, research and development. 42. Reparations Commission Created under Republic Act 1789 to implement the Reparations’ Agreement between the Philippines and Japan entered into on May 9, 1956. The Agree ment provides for Japan to pay to the Philippines, by way of war damage reparations, a total of P55O million worth of Japanese goods and services. 43. Science Foundation of the Philippines A public corporation created under Republic Act 770 which took effect June 20, 1952. Significant purposes are to initiate, promote, stimulate, solicit, encourage and support basic and applied scientific research in the mathematical, physical, medical, biological, engineering and other sciences. It aims to promote science-consciousness among the youth and the general public.
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