L-R: GCG Commissioners Atty. Gideon D.V. Mortel and Atty. Geraldine Marie Berberabe-Martinez, GCG Chairperson Alex L. Quiroz, PRA Board Secretary Atty. Mark Arthur M. Catabona, Corporate Planning Specialist Ms. Unice B. Robles, and Ms. Grace D. Ortaleza (photo courtesy of GCG).
The Philippine Reclamation Authority was recognized as one of the top-ranking Government-Owned and Controlled Corporations (GOCCs) in the 2021 Corporate Governance Scorecard (CGS) for GOCCS during the CY 2021 CGS Exit Conference held at the Philippine International Convention Center (PICC) in Pasay City on 05 December 2022.
By virtue of Section 43 of the Governance Commission for GOCCs (GCG) Memorandum Circular No. 2015-07 (Re-Issued), the CGS aims to assess the level of adherence of GOCCs to best practices and international standards of corporate governance. In parallel with Section 5(c) of R.A. No. 10149 (GOCC Governance Act of 2011), the CGS for GOCCs was instituted to reinforce the Code of Corporate Governance derived from the Organization for Economic Co-operation and Development (OECD) Principles of Corporate Governance and the Association of Southeast Asian Nations (ASEAN) Corporate Governance Scorecard.
On behalf of the PRA Governing Board, the award was received by Board Secretary V, Atty. Mark Athur M. Catabona, together with Corporate Planning Specialist, Ms. Unice B. Robles, and Ms. Grace D. Ortaleza.
Top 10 GOCCs in the Corporate Governance Scorecard for 2021 (photo courtesy of GCG).
This is the sixth consecutive year that PRA garnered an outstanding rating in the CGS. At the height of the pandemic, PRA likewise received an outstanding rating for its CY 2020 CGS with an equivalent numerical rating of 90.00 percent to a 100.00 percent. The GCG’s recognition of PRA’s unwavering performance is steered by the leadership of its Governing Board and Management Committee in the systematic delivery of public service.
With GCG as the central advisory, monitoring, and oversight body over GOCCs, the consistent validation of PRA’s best practices in corporate governance could not have come at a better time as it transitions to become a premier reclamation authority pursuant to Executive Order (E.O.) 74, s. 2019.
In the practice of good corporate governance, PRA’s policy direction remains to be grounded on its mission and vision statements as a government instrumentality mandated to regulate reclamation, create environmentally sustainable reclaimed land, promote coastal resilience, and develop government properties that will ultimately benefit the Filipino people and their families from all walks of life.