THE Department of Budget and Management (DBM) and the Securities and Exchange Commission (SEC) are expected to sign an agreement to share data on companies that participate in government procurement.
Budget Undersecretary Goddes Hope O. Libiran said the Data Sharing Agreement will be signed on March 14.
The SEC and the DBM’s Procurement Service will “share relevant information about corporations and other registered/licensed entities that participate in government procurement,” PS Executive Director Genmaries S. Entredicho-Caong, the executive director of PS-DBM told BusinessWorld via Viber.
The data that will be shared with the PS will include beneficial ownership information.
“These data may contain personal information and sensitive personal information such as but not limited to the complete name, specific residential address, date of birth, nationality, tax identification number,” she said.
Also covered by the deal are information on stakes held by incorporators, stockholders, directors, trustees, members, officers, and beneficial owners of registered corporations, or stakes held by partners in the case of partnerships.
The PhilGEPS is administered and managed by PS-DBM.
Ms. Caong said users of the Philippine Government Electronic Procurement System (PhilGEPS), which are procuring entities, suppliers, auditors, and civil society organizations, can access information about bidders and contract awardees, including their beneficial owners.
“We will sign an agreement together with the SEC to share their documents and information,” Budget Secretary Amenah F. Pangandaman said in a television appearance on Money Talks with Cathy Yang. — Aubrey Rose A. Inosante