PRESIDENT Benigno Aquino III on Friday required the directors of government-owned and -controlled corporations to sign a performance contract so they can be removed if they fail to deliver.
Mr. Aquino announced the new policy as he received P29 billion in dividends from various state-owned and controlled corporations in Malacañang.
Five companies made it to the Billionaires’ Club: the Bangko Sentral with P14.23 billion in dividends; Land Bank of the Philippines with P4 billion; the Development Bank of the Philippines with P2.8 billion; the Bases Conversion Development Authority with P1.8 billion; and the Manila International Airport Authority with P1.49 billion.
Mr. Aquino said the money would be used to boost the economy, reduce poverty, and enhance the government’s social services.
“GOCCs will no longer be milking cows for politicians and their wards,” Mr. Aquino said.
“Also, we are working on a process that will require GOCC directors to sign a performance contract with the Office of the President and their supervising secretaries. Non-performance of a material obligation will be a cause for removal from the board.”
Earlier, the President extended the suspension of the bonuses, incentives, and other perks for the board members of state-owned corporations to Jan. 31. These companies’ top officials would receive only their basic salaries and “reasonable per diem” until the review was completed.
The President also ordered a moratorium on the increases in salaries, allowances, incentives and other benefits—except those adjustments covered by the Salary Standardization Law—until those increases were approved by the Palace.
Last year, the President created a task force to review all the remuneration granted to the board members, officers and rank-and-file employees of state-owned and -controlled corporations, and then to recommend measures that would rationalize the compensation system.
He created the group after reports said that the officials of the Metropolitan Waterworks and Sewerage System had given themselves 30-month bonuses. –Joyce Pangco Pañares, Manila Standard Today
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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