GSIS appoints officer-in-charge, freezes plan to sell port area land

ABS-CBN News

Posted at Jul 04 2019 05:59 PM

MANILA - The board of the Government Service Insurance System (GSIS) has appointed an officer-in-charge following the resignation of Jesus Clint Aranas as president of the pension fund. 

The GSIS board said it appointed its current chairman Rolando Macasaet as OIC on the recommendation of Finance Secretary Carlos Dominguez. 

The pension fund also put on hold plans to sell the GSIS's port area property "until further study and consultation with all stakeholders." 

A large part of the 78-hectare lot in Manila being claimed by the GSIS is currently being leased by the Philippine Ports Authority to global port operator ICTSI. 

The property is estimated to be worth P41.8 billion. 

During Aranas' term, the pension fund's management was also ordered by the Commission on Audit to refund P260.5 million in employee incentives, calling them "illegal expenditures."