DBP chair questions merger with LandBank IN BRIEF

nance Commission for GOCCs to merge GOCCs in its Lagman v. Executive Secretary ruling upon finding that it is to the best interest of the state,” he said.

Diokno said the merger would create a bigger and stronger bank to better serve the country’s development needs. The LBP will be the surviving entity with its much higher authorized capital stock of P800 billion, compared to DBP’s P35 billion and overall stronger financial position.

Tinga said the GCG’s “legal study” should have been left in the capable hands of the OSG and the OGCC, which are mandated by their respective charters to serve as the lawyers of the government together with its units and GOCCs, respectively.

SUSTAINABILITY AGENDA. Department of Trade and Industry Secretary Alfredo Pascual (second from left) joins fellow ASEAN economic ministers in advancing the region’s sustainability agenda during the 22nd Meeting of the ASEAN Economic Community Council on May 7, 2023 in Jakarta, Indonesia. With Pascual are (from left) Deputy Secretary General Hairil Yahri Yaacob of Malaysia; Ministers Gan Kim Yong of Singapore; Ekachat Seetavorarat of Thailand; Nguyen Sinh Nhat Tan of Vietnam; Airlangga Hartarto, AECC chair of Indonesia; Jerry Sabuaga, alternate AECC lead of Indonesia; Manonthong Vongsay of Lao PDR; Dato Dr. Amin Liew Abdullah of Brunei Darussalam; Pan Sorasak of Cambodia; Joaquim Amaral of Timor-Leste; and Secretary-General Dr. Kao Kim Hourn of the ASEAN Secretariat.