Salaries of Philippine GOCCs To Be Reviewed

[pioneer]

Gov't reviews salaries of GOCC execs
By Iris C. Gonzales (The Philippine Star)

MANILA, Philippines - The Aquino administration is reviewing the compensation structure for heads and executives of government-owned and controlled corporations (GOCCs) who sit in various private corporations in their capacity as GOCC executives, a ranking official said.

According to the new rules, GOCC executives can only receive bonuses, profit shares and other perks from private corporations subject to certain limits. The rest of the amount, beyond limits soon to be set by the GCG, would have to be turned over to the respective GOCC, said Social Security System (SSS) president and chief executive officer Emilio de Quiros Jr.

SSS is one of the agencies covered by the new rules.

The move is part of efforts to prevent abuse by some previous GOCC officials of their position in government.

[georgewest41]

The Aquino administration is now reviewing the salary of the executives of the firm. There was some dispute that has to be mended as soon as possible.

[islander]

about time.  their salaries and other perks are truly unbelievable in relation to what they do.  it's wall street, philippine style.

[johnchanel]

GOCC executives are eligible to get bonus amount. They also get additional perks from sources. Besides this any other amount has to be discussed at GOCC.

[bobdyer]

The executives belong to the government managed corporations, in which the national government exercises indirect management.

[brucedyer3]

I really think that it is high time that the salaries of these people be put under investigation. They are apparently getting so much for work that they are not doing at all.