Looking into GOCC executives’ salaries and benefits
CHEERS to Network News of CNN Philippines for a report on the “hefty” salaries and benefits of executives of government-owned and -controlled corporations (GOCCs) three years after Republic Act No. 10149 became law.
RA 10149 is an act “to promote financial viability and fiscal discipline in government-owned or -controlled corporations and to strengthen the role of the state in its governance to make them more responsive to the needs of public interest for other purposes.”
In a March 20 report, Network News looked into the salaries, benefits and bonuses of high ranking GOCC officials and asked if these were justifiable.
The report said that based on a 2013 Commission on Audit report, Php 815 million in “disallowed allowances and benefits” should be returned to the government by the GOCCs. The news report said that some items for which the executives were paid were “personal” in nature and “unusual.” These included pet expense allowance, fees for recording minutes, All Saint’s day financial assistance and “Filipiniana” among others.
Dir. Paolo Salvosa, Governance Commission for GOCCs spokesperson, said the perks were based on the prevailing practices of the private sector.
The story also compared the Php 7 million worth of combined annual salaries, bonuses and benefits of Social Security System (SSS) high ranking officials to the Php 16, 800 SSS yearly pension of a regular pensioner. The report said that employees have the right to ask since the allowances GOCC officials receive come from their contributions and taxes.