EO standardizes pay and perks of GOCC, GFI executives
02/12/2011Malacañang has issued an executive order (EO) standardizing the salaries and bonuses of executives in government-owned and -controlled corporations (GOCCs) and government financial institutions (GFIs) to strengthen control over compensation levels.
President Aquino signed EO 24 on Thursday to address “deep concerns on the excessive and unreasonable pay and perks received by board members and trustees of GOCCs and GFIs” that had unnecessarily depleted government funds and caused demoralization within the bureaucracy.
“This EO will serve as a stop-gap measure to rein in excessive pay for GOCC board of directors and trustees until a law is passed mandating such,” Executive Secretary Paquito Ochoa Jr. said yesterday.
According to Ochoa, one such measure is Senate Bill 2640 or the proposed GOCC Governance Act of 2011 put forward by Sen. Franklin Drilon, which is now pending in Congress..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/nation/20110212nat2.html
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