ShareThisMANILA – President Benigno Simeon Aquino III issued Executive Order No. 19, extending the suspension of perks and bonuses of executives of government-owned and controlled corporations (GOCCs) and government financial institutions (GFIs).
The EO, signed last December 30, 2010, suspends the perks until January 31, this year.
The latest EO was a follow up to the previous EO No. 7 that suspended until Dec. 31 last year the bonuses, perks, and allowances of GOCC and GFI executives.
In the EO, President Aquino said the Task Force on Corporate Compensation is still reviewing the grant of remunerations to the officials.
“The TFCC is in the process of conducting a review on all remuneration granted to the members of the board of directors/trustees, officers and rank and-file employees, as well as discretionary funds of GOCCs and GFIs,” he said.