Palace to suspend GOCCs’ ‘excessive compensation’
10/04/2010
Malacañang has adopted Senate Resolution 17 that suspends all the bonuses and allowances, except “reasonable payments,” of the executives of various government-owned and -controlled corporations (GOCCs) and have these sums of money turned over to the country’s coffers.
President Aquino yesterday said he is just awaiting the executive order (EO) — revising the previous one issued in 2001 — that would “tighten” the cap on the excessive financial packages being given to GOCC officials as well as those in the government financial institutions (GFI).
Aquino, in a quick press conference, announced that the EO may be released next week as soon as the draft of the order by Budget and Management Secretary Florencio Abad reaches him.
Source: The Daily Tribune
URL: http://www.tribuneonline.org/headlines/20101004hed6.html
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