Press Release
August 15, 2010


Senator Edgardo J. Angara backs a review of the compensation package received by GOCC (Government-Owned and Controlled Corporations) employees saying that it should be competitive enough to vie with the private sector but not exceedingly high to the point of extravagance.

"It seems that some GOCC's compensation package are even bigger than the private sector. We ought to look into it if it's for the purpose of retaining the employees," said Angara, former chair of the Senate Committee on Finance.

He added, "We should be fair and not favor nor tolerate extravagance in our government."

Further, Angara said that the resolution filed by Senator Drilon directing the Senate Committees on Finance and Government Corporations and Public Enterprises to conduct an investigation into the matter should also recommend a compensation package rightful and fair for the employees.

"I hope we could come up with a recommendation that the compensation package that will be received by the officials and employees of the government corporate sector is at least competitive with the private sector and it should not be exceedingly high that no longer serves the purpose and will already be classified as extravagance and wasteful spending," said Angara.

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