President Aquino on Tuesday signed an executive order giving the green light to salary increases for executives and employees of government-owned and -controlled corporations (GOCCs) and other government financial institutions.
Executive Order No. 203 or the adoption of a “Compensation and Position Classification System (CPCS) and a General Index of Occupational Services (IOS) for the GOCC Sector, would allow quasi-government corporations to raise their salaries to a level comparative to the private sector in line with the GOCC Governance Act of 2011.”
A Malacañang statement did not mention how much the increase would cost the government but a GOCC briefing paper on the Palace website estimated it at about P4.6 billion.
The new EO follows the President’s approval last February of salary increases for some 1.5 million civilian and military employees (EO 201), estimated to cost the government P226 billion, after Congress failed to pass the Salary Standardization Law.
Communications Secretary Herminio Coloma Jr. said the implementation of the CPCS would be “subject to each GOCC’s capacity to pay, ensuring the corporation’s financial viability.”
Coloma said EO 203 “covers all government-owned or -controlled corporations, government financial institutions, as well as government instrumentalities with corporate powers or government corporate entities including their subsidiaries.”
“EO 203… serves as the counterpart measure for GOCCs to EO 201… which modified the salary schedule for civilian government personnel and authorized the grant of additional benefits for both civilian military and uniformed personnel,” Coloma said. Nikko Dizon
Read more: http://newsinfo.inquirer.net/776006/aquino-oks-pay-hike-for-govt-firms-personnel#ixzz43teCcepX
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