In an interview with The STAR, Finance Undersecretary Catherine Fong said the DOF-attached agency Privatization and Management Office (PMO) has been slow in the process of selling state assets.
“We keep on approving assets for auction but we in the PrC (Privatization Council) are frustrated since the majority are failed biddings. PMO is really slow,” Fong said.
“The problem is how PMO advertises, they don’t have a marketing plan. Most of their lawyers have no idea how to sell anything,” she said.
PMO has around 28,000 real estate titles in varying sizes as part of the disposition plan. The government also has shares in tollways, mining and in other state and private corporations.
Denne historien er fra July 08, 2024-utgaven av The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Allerede abonnent ? Logg på
Denne historien er fra July 08, 2024-utgaven av The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Allerede abonnent? Logg på
The Philippine Madrigal Singers celebrate 60 years
The Philippine Madrigal Singers or the Madz is now 60 years old. More than 60, in fact, it is currently on a year-long celebration of its six decades of existence.
Manila Water extends pipe coverage in Taguig
East Zone concessionaire Manila Water Co. Inc. said it would be able to service 700,000 more customers in Taguig once its P577-million pipelaying project in the city is completed by next year.
Cebu Pacific restructuring to wipe out P16-B deficit
Low-cost carrier Cebu Pacific is pursuing a restructuring plan to eliminate more than P16 billion in deficit, nursing its balance sheet prior to the closing of its largest plane order.
RLC funnels in P34-B assets to REIT unit
Robinsons Land Corp. (RLC), the real estate firm of the Gokongwei family, has infused P33.92 billion worth of assets to its real estate investment trust unit RL Commercial REIT Inc. (RCR) via a property-for-share swap.
Pag-IBIG secures highest COA rating
The Home Development Mutual Fund, commonly known as Pag-IBIG Fund, has received the highest evaluation granted by the Commission on Audit (COA) for its financial statements.
PSEI bounces back on positive cues from Wall Street
The stock market immediately returned to its winning ways yesterday after Tuesday’s loss as investors sought inspiration from positive developments in Wall Street.
Phl to lead Asean in growth - ADB
The Philippine economy is expected to post the fastest growth in Southeast Asia this year and next, according to the Asian Development Bank ADB).
MERALCO BRINGS BACK DURHAM
Get ready for Round 4 of the Justin BrownleeAllen Durham matchup.
'Trump will protect gun rights'
Despite assassination attempt
Luzon grid on yellow alert anew
After more than a month, the Luzon grid was placed under yellow alert again yesterday due to the forced outage of a 417-megawatt natural gas-powered plant in Batangas.
