Olongapo SubicBay BatangGapo Newscenter

Wednesday, August 18, 2010

Subic, Clark losing but top execs raking it in

The Subic Bay Metropolitan Authority (SBMA) and the Bases Conversion and Development Authority (BCDA) are among the government-owned and -controlled corporations (GOCCs) “losing” money, yet their officials are among the highest paid in government

SBMA Administrator Armand Arreza was the biggest earner among GOCC executives in 2007, 2008 and 2009, getting P14.5 million, P30.3 million and P26.8 million, respectively, Commission on Audit (COA) Chair Reynaldo Villar told senators.

Arreza’s package

Naranjo gave senators a breakdown of Arreza’s financial package which included P1.5 million (basic salary), P40,000 (per diem allowance), P100,000 (representation and transportation allowance) and P145,800 (bonus and incentives).

In addition, Arreza was entitled to “extraordinary and miscellaneous expenses” (EME) worth P18.1 million, an amount intended for activities such as “meetings, seminars, conferences, special entertainment and public relations.”

Intelligence fund

Naranjo said GOCC officials were also receiving P5 million in intelligence fund, which surprised some senators at the hearing.

“How do non-security agencies spend the intel fund? How do you liquidate intel fund? It’s about time we knock out many of these intel funds. They amount to billions of pesos but where are they being used?” Senate President Juan Ponce Enrile asked.

Drilon told reporters that intel funds should be only for those in charge with law and order and security.

“I have always opposed intel funds to nonsecurity-related agencies and, therefore, the SBMA has no business having intelligence funds,” he said. With reports from Abigail L. Ho and Michelle V. Remo - newsinfo.inquirer.net/inquirerheadlines

Full Report: http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20100818-287414/Subic-Clark-losing-but-top-execs-raking-it-in


GMA7 24 ORAS REPORT
video

Senate finance panel probes fat bonuses of gov't officials

The Senate Finance Committee chaired by Senator Franklin Drilon is set to investigate the fat bonuses of top officials of government-owned and controlled corporations on Tuesday, August 17.

The Finance panel will discuss Senate Resolution No. 66 filed by Drilon to lay the basis for a remedial legislation that will be enacted.

The committee, Drilon said, will review the implementation of Republic Act 7656 that mandates government-owned and controlled corporations to declare dividends to the national government. He said possible abusive practices by government officials should be eliminated.

"Let's look for ways of increasing revenues without raising or imposing new taxes," Drilon said.

The hearing was called to look into possible excesses by state officials and seek ways to plug the ballooning budget deficit projected at P307.5 billion this year and P285 billion for 2011.

As such, the lawmaker also calls for the rationalization of non-performing government agencies that are heavily subsidized by the government, which results to depletion of funds. He said the panel will also review the mandates of state firms.

Executive Secretary Paquito Ochoa, Commission on Audit Chairman Reynaldo Villar, Department of Finance Undersecretaries John Philip Sevilla and Jeremias Paul, Department of Budget and Management Directors Mary Grace Chua and Myrna Chua have been invited to attend the public inquiry.

Executives of Subic Bay Metropolitan Authority, Philippine Amusement and Gaming Corp., Development Bank of the Philippines will be called on the next hearing slated on August 24. (Office of Sen. F. Drilon) http://www.pia.gov.ph/default.asp?m=12&r=&y=&mo=&fi=p100818.htm&no=10

Labels: , , ,

0 Comments:

Post a Comment

<< Home


 

This is a joint private blog of volunteers from Subic Bay. It is being maintained primarily to collate articles that may be of importance to decision making related to the future of Subic Bay and as a source of reference material to construct the history of Subic Bay.

The articles herein posted remains the sole property of original authors and publications which has full credits to the articles.

Disclaimer: Readers should conduct their own research and due diligence before using any article herein posted for whatever intended purpose it may be. This private web log will not be liable for any loss or damage caused by a reader's reliance on information obtained from volunteers of this private blog.

www.subicbay.ph, http://olongapo-subic.com, http://sangunian.com, http://olongapo-ph.com, http://oictv.com, http://brgy-ph.com, http://subicbay-news.com, http://batanggapo.com 16 January 2012