GCG PROPOSES AMENDMENTS TO THE COMPENSATION OF GOCC BOARDS
(Released on 12 January 2017)
Prior to the statement of Socioeconomic Planning Secretary Ernesto M. Pernia on the proposed cap on the salaries and bonuses of Government-Owned and –Controlled Corporation (GOCC) officials, regular employees and staff, the GCG has already been undertaking a study, in consultation with the Department of Finance (DOF) and the Department of Budget and Management (DBM), on the proposed Executive Order (E.O.) amending E.O. No. 24, s. 2011, on the compensation of members of the Board of Directors/Trustees in GOCCs including Government Financial Institutions (GFIs) covered by Republic Act (R.A.) No. 10149.
The amendments to E.O. No. 24, s. 2011, which were approved by the Commission en banc on 30 September 2016, were proposed to distinguish the Director’s Compensation System (DCS) of GOCCs pending their adoption of the Compensation and Position Classification System (CPCS), which was approved by former President Aquino on 22 March 2016.
The amendments contained in the proposed E.O. provides for revised rates of per diems for every Board or Committee meetings attended by the Board of Directors/Trustees. The revised rates are in accordance with the policy of the Duterte Administration to promote prudence in spending and to provide for a compensation system that is reasonable and appropriate based on the performance of the GOCCs.
For media contact:
Veronica Paula D. Castro
(02) 328 – 2030 to 34 local 406
Prescribing the Rules to Govern the Compensation of Members of the Board of Directors/Trustees in Government-Owned or Controlled Corporations Including Government Financial Institutions, 10 February 2011.