The proposed merger of state-run banks Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (Landbank) can only be done by congressional action, and not by mere executive order (EO), a veteran lawyer and lawmaker said on Sunday. 'The proposed merger of DBP and [Landbank] necessitates the amendment of their respective charters by Congress,' independent opposition and Albay Rep. Edcel Lagman said in a statement. 'Only Congress can grant legislative charters to operationalize (government-owned and -controlled corporations or) GOCCs, amend their charters, or abolish or merge GOCCs,' he said.

https://newsinfo.inquirer.net/1766091/landbank-dbp-merger-needs-law-not-just-eo-says-lawmaker

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