Noynoy reviews draft EO on perks of GOCC directors, trustees

MANILA, Philippines -  Malacañang said yesterday the draft of the executive order delineating the allowances, bonuses and incentives of directors and trustees of government-owned and controlled corporations (GOCCs) and government financial institutions (GFIs) was finished and is now being reviewed by President Aquino.

The suspension of these perks had lapsed yesterday. The President earlier issued EO 7 suspending the allowances, bonuses and incentives of directors and trustees of GOCCs and GFIs until Dec. 31 but extended it until Jan. 31, 2011 under EO 19 pending the issuance of new policies and guidelines.

 “Ideally, at the end of the suspension we should have the guidelines already,” Deputy Presidential Spokesperson Abigail Valte said.

Budget Secretary Florencio Abad and the Office of the Executive Secretary said the Task Force on Corporate Compensation had finished the guidelines that would stop the grant of excessive perks to those officials serving in GOCCs and GFIs.

Abad, who heads the task force, was quoted in earlier reports as saying that the EO being prepared would spell out in detail the intentions of EO 7, which directs the rationalization of the compensation and position classification system for GOCCs and GFIs.

The budget and finance departments, as well as the Civil Service Commission, are represented in the task force.

EO 7 also imposed an indefinite moratorium on increases in salaries, allowances, incentives and other benefits for GOCCs’ employees.