Senate to seek fair GOCC pays in inquiry
By Angie M. Rosales 08/16/2010 The Senate will try to recommend a competitive compensation packages for executives of state firms without these being excessive as the chamber starts a probe nto reported excessive and unwarranted salaries of some officials in government controlled and owned corporations (GOCCs). Sen. Edgardo Angara said salaries and allowances of GOCC executives should still be competitive enough to compete with those given in the private sector but not exceedingly high to the point of it being considered already an extravagance. The Senate committee on finance under Sen. Franklin Drilon had set the Senate inquiry tomorrow on the excessive salaries and incentives of the GOCC executives. The first round of public hearing is an inquiry into the government officials from the Department of Budget and Management, Department of Finance and Executive Secretary office, according to Drilon. Angara said he is backing the move taken by Drilon to conduct an inquiry into the matter, to review the compensation package received by GOCC officials. “It seems that some GOCC’s compensation package are even bigger than the private sector. We ought to look into it if it’s for the purpose of retaining the employees,” said Angara, former chairman of the Senate committee on finance..... MORE Source: The Daily Tribune URL: http://www.tribuneonline.org/headlines/20100816hed2.html |
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