PCGG abolition is imminent after the house of representatives approves on third (3rd) and final reading the abolition of the PCGG or the Presidential Commission on Good Government.
PCGG is the government agency tasked to go after the Marcos ill-gotten wealth.
The PCGG was created by virtue of Executive Order No. 1 of then President Corazon C. Aquino on February 28, 1986.
Under Section 2 thereof, it is “charged with the task of assisting the President in regard to the following matters:
The recovery of all ill-gotten wealth accumulated by former President Ferdinand E. Marcos, his immediate family, relatives, subordinates and close associates, whether located in the Philippines or abroad, including the takeover or sequestration of all business enterprises and entities owned or controlled by them, during his administration, directly or through nominees, by taking undue advantage of their public office and/or using their powers, authority, influence, connections or relationship.
The investigation of such cases of graft and corruption as the President may assign to the Commission from time to time.
The adoption of safeguards to ensure that the above practices shall not be repeated in any manner under the new government, and the institution of adequate measures to prevent the occurrence of corruption.
Third reading means that the title of the bill abolishing the PCGG is read, no amendment is allowed at this stage and a vote shall be taken immediately thereafter and the yeas and nays entered in the journal.
The vote was 162 in favor of PCGG abolition and 10 voted against PCGG abolition.
Now that the bill seeking to abolish the PCGG passes the third reading in the House of Representatives, it will now be sent to the Senate where it will also go under three (3) readings.
Granting that the bill passes third reading as well in the Senate, the bill in order to become a law abolishing the PCGG, must be presented to and signed by the President of the Philippines.