Over the years, reforms have been in place to rationalize and reengineer, instill financial discipline, and make the Philippine public enterprise sector (PES) or the government owned and/or controlled corporations (GOCCs) in local parlance, more accountable and performing. Gains have been evident and this paper aims to revisit these recent reforms and transformations (pre-2001 to present) in the PES and assess the enhanced performance it has been experiencing at present. This article inquires, based on secondary materials and reports, on the changed status of the GOCC sector in terms of performance and accountability, and the issues and challenges ahead related to public corporate governance and reform. It also briefly review past reforms in the PES in order to contextualize implications for future directions.
