(UPDATE) PRESIDENT Ferdinand 'Bongbong' Marcos Jr. has vetoed a proposed bill seeking to strengthen the Office of the Government Corporate Counsel (OGCC) 'due to the inequity in compensation and substantial fiscal risk it may bring to the country,' Malacañang announced Saturday.

Press Secretary Rose Beatrix 'Trixie' Cruz-Angeles said Marcos vetoed Senate Bill (SB) 2490 and House Bill (HB) 9088 titled an 'Act Strengthening the Office of the Government Corporate Counsel (OGCC) By Rationalizing and Further Professionalizing Its Organization, Upgrading Positions and Appropriating Funds Therefor.'