Judging from the date in the "Entered" date of this record I would venture to say that what you are seeing is an LC "in-process" record. There is a statement from LC on the BIBCO Home Page that speaks to this situation: http://www.loc.gov/catdir/pcc/inprocess.html 
In brief, the statement says that when LC first implemented the LC-ILS, LC "in-process"  records were distributed with the indicia of a "pcc" record when, in fact, this was not the case.  Subsequently, LC corrected the procedure; however, those records already distributed could not be recalled.  Occasionally, LC staff do not apply the correct values and these records are still then distributed.  If you have further issues or questions do not hesitate to contact me.
Ana Cristán
BIBCO Coordinator

Kate Harcourt wrote:
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A staff member was confused by the following record. Is it correct to be
seeing minimal level records without a call number from an established
scheme and without subject headings coded as PCC? Records such as these
are problematic for our workflow as they are pulled off automatically for
fast cataloging because of the pcc marker in 042.


OLUC  da abed,tran                                          Record 1 of 2
  OCLC:  50606162            Rec stat:    c
  Entered:    19980825       Replaced:    20030405       Used:    20030126
Ü Type:  a     ELvl:  7     Srce:        Audn:        Ctrl:        Lang:
  BLvl:  m     Form:        Conf:  0     Biog:        MRec:        Ctry:
               Cont:  b     GPub:        LitF:  0     Indx:  1
  Desc:  a     Ills:  a     Fest:  0     DtSt:  s     Dates: 1998,     Ý
Ü   1  010     98-188028 Ý
Ü   2  040     DLC ßc DLC ßd OCLCQ Ý
Ü   3  020     1919713263 Ý
Ü   4  042     pcc Ý
Ü   5  090     ßb  Ý
Ü   6  049     ZCUA Ý
Ü   7  100 1   Abedian, Iraj. Ý
Ü   8  245 10  Transformation in action : ßb budgeting for health service
delivery / ßc Iraj Abedian, Brigid Strachan, Tania Ajam. Ý
Ü   9  260     Private Bag Rondebosch : ßb University of Cape Town, ßc
1998. Ý
Ü  10  300     viii, 200 p. : ßb ill. ; ßc 24 cm. Ý
Ü  11  504     Includes bibliographical references (p. 191-192) and index.
Ü  12  700 1   Strachan, Brigid. Ý