DOF cleans up inventory of all agency issuances

MANILA, Philippines - From an inventory of issued regulations to office improvements and renovations, the Department of Finance has embarked on projects meant to clean – and improve – its own backyard five months before President Aquino steps down.

“I look forward to leaving behind a more coherent organization for my successor to have an easier time leading the Department of Finance,” Finance Secretary Cesar Purisima said in a statement yesterday.

 Purisima issued a department order calling for an inventory of all its issuances, including its attached agencies, to weed out inconsistencies and irrelevant ones.

The DOF is the government’s main revenue agency which has supervision over the bureaus of Internal Revenue (BIR), Customs and Treasury.

The three collectively accounts for 90 percent of state revenues.

The agency also oversees the Insurance Commission, the Securities and Exchange Commission, Bureau of Local Government Finance, Cooperative Development Authority, Philippine Deposit Insurance Corp., Philippine Export-Import Credit Agency, Central Board of Assessment Appeal, and the National Task Research Center.

Purisima said a technical working group will oversee the inventory and rationalization of issuances. The entire process should be completed by May 29.

“All issuances that are no longer applicable or have been superseded by subsequent events or regulations or are deemed irrelevant as of this time are to repealed,” Purisima said.

The DOF had also begun renovating parts of its 19-year-old building along Roxas Boulevard in Pasay City.