PNCC officials among top GOCC execs with fat pay, bonuses
By Angie M. Rosales 10/09/2010Officials from the Philippine National Construction Corp. (PNCC) are alleged to be among the government-owned and controlled corporations (GOCCs) enjoying excessive salaries and perks, with its president taking home a monthly pay of P7.5 million and the 15 other executives receiving a total of P58.8 million in basic salaries last year.
Sen. Franklin Drilon stumbled upon this information as he probed into the issue of the non-remittance of some P2.3 billion toll revenues from the operations of North Luzon and South Luzon Expressways that they continue to exact from motorists despite the prohibition by the Supreme Court.
The PNCC, which had been granted by law during the Marcos era to operate and maintain the various limited-access toll highways, was no longer authorized to collect toll since its franchise had expired, the high court said in its 2007 ruling.
Yet it continues to have a share in the toll collections and these failed to be remitted to the national treasury, senators learned during the hearing held on the proposed P2.7-billion budget of the Department of Trade and Industry (DTI) for 2011 Thursday evening..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/headlines/20101009hed2.html
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