Palace orders dissolution of GOCC Northern Foods Corp.

Malacañang has ordered the dissolution of Northern Foods Corp. (NFC) calling it no longer cost-effective and at odds with the government’s development policy. Executive Secretary Salvador C. Medialdea, on the President’s authority, signed Memorandum Order No. 58 which would dissolve the NFC, which has incurred net losses since its founding except in 1989, 1995, and […]