Opascor executives slash allowances, benefits

CEBU, Philippines – Amid the global financial meltdown, officials of the country’s biggest cargo-handling company voluntarily slashed their allowances and some of their benefits.

This was what Tomas Riveral, general manager and president of the Oriental Port and Allied Services Corporation (Opascor), said in his speech during company’s 19th anniversary celebration last Wednesday.

Riveral, who received a plaque of appreciation from the employees, also boosted the management’s good relationship with the rank and file.

Opascor is giving a high salary to its workers, reportedly the biggest in the cargo-handling business. For instance, its janitor is receiving a monthly salary of P17,000.

In his speech during the company’s anniversary celebration at the Cebu Grand Convention Center, Riveral announced that the company will implement a salary increase beginning this month.

Opascor will soon construct a P170 million bulk cargo handling facility at the Cebu International Port.

The company, which is the cargo-handling service provider at the CIP, has an existing contract with the Cebu Port Authority (CPA) which is valid until 2013.

Established in 1990, Opascor primarily engages in stevedoring, arrastre and other port cargo-handling services. — Mitchelle L. Palaubsanon/LPM (THE FREEMAN)