BCDA Cited for Corporate Governance
The Bases Conversion and Development Authority (BCDA) has been cited as one of the best managed government agencies in terms of good corporate governance by the Institute of Corporate Directors, an elite gathering of the country's top business executives that aim to promote excellence and transparency in government.
The BCDA was ranked 6th overall in a field of 31 government-owned and controlled corporations (GOCCs) in the first ever ranking for government agencies using the Corporate Governance Scorecard (CGS) conducted by the ICD with the support of the British Embassy in Manila and the Capital Market Development Council (CMDC).
The CGS measures actual improvement in corporate governance practices of the various government agencies and institutions based on the following categories--responsibilities of the board, relations with stakeholder, ensuring an effective regulatory framework, government acting as owner, and transparency and disclosure.
BCDA President and CEO Narciso Abaya said the citation is proof that hard work, transparency and leadership are more important than populist policies aimed at merely pleasing certain sectors and vested interests.
"The high mark earned by the BCDA from the country's top executives is a confirmation of our basic management policy at BCDA - to serve the public interest at all times," Abaya said. …