EO imposing cap on pay/perks of GOCC execs out next week

September 4, 2010 10:49 am 

MANILA, Sept. 3 – President Benigno S. Aquino III said on Friday the executive order imposing a cap on the salaries and perks of executives of government-owned and controlled corporations (GOCCs) will be issued next week and “would become part of the law of the land.”

In an interview following the inauguration of the expanded facility of Convergys Philippines in Sta. Cruz, Manila, the President said he is waiting for the draft from the Department of Budget and Management “on how to tighten up” the existing Administrative Order No. 103 of 2001 adopting austerity measures in government.

He said the draft EO “will prevent the excessive pay benefit packages that some GOCC executives have been basking in for such a long time.”

The President said he expects resistance to this EO “from those who have gotten all of these fat pays, but we will insist that their positions and benefits are due the government and the people.”

The government is making an inventory of all the GOCC executives, the pays and bonuses they have been getting and the legalities of how they managed to afford themselves all of these.

He said the EO will be all-encompassing, and will rationalize, put a cut and limit the pay packages for government nominees.

The President earlier this month told reporters that the draft EO will reiterate the cap that is already contained in an existing order of the previous administration but which was not enforced. (PNA) scs/PCOO/rdlc/utb

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