BSP’s Tetangco is highest paid gov’t official anew

MANILA, Philippines - For the second consecutive year, Bangko Sentral ng Pilipinas (BSP) governor Amando Tetangco Jr. has topped the list of highest paid government officials, according to the Commission on Audit (COA).

Based on COA’s “Report on Salaries and Allowances” (ROSA) of government officials for 2016, Tetangco received a total pay of P15.912 million.

This included P7.8 million as basic salary, P24,000 as additional compensation and honorarium, P2.778 million in allowances, P2.969 million in bonuses and P1.039 million in discretionary funds and miscellaneous expenses.

Tetangco, who retires next month, also topped the ROSA list in 2015 with total pay of P13.957 million.

Seven other BSP officials were also among the 10 highest paid last year, the COA report showed.

Second on the 2016 ROSA list is Tetangco’s successor BSP deputy governor for supervision and examination sector Nestor Espenilla Jr., with total pay of P12.282 million.

BSP deputy governor for monetary stability sector Diwa Guinigundo ranked third with P12.248 million, followed by BSP deputy governor for resource management sector Vicente Aquino with P12.145 million.

Meanwhile, Government Service Insurance System (GSIS) president Robert Vergara ranked fifth with total pay of P9.743 million, followed by two other BSP executives – Monetary Board members Juan de Zuñiga Jr. and Felipe Medalla, with total pay of P8.451 million and P8.375 million, respectively.

Securities and Exchange Commission (SEC) chair Teresita Herbosa landed in eighth place with total earnings of P8.339 million, from P9.801 million last year when she ranked third on the list.

Ranking ninth highest paid official in 2016 was BSP assistant governor Ma. Ramona Gertrudes Santiago, who earned P8.292 million.

In tenth place was BSP Monetary Board member Valentin Araneta who earned P8.226 million.

A total of 8,729 officials from 981 national government agencies (NGAs), government-owned and controlled corporations (GOCCs), government financial institutions (GFIs), state universities and colleges (SUCs) and water districts were included in the 2016 ROSA list.

Highest paid Cabinet members

Meanwhile, Commission on Higher Education chair Patricia Licuanan ended 2016 as the top earning member of President Duterte’s Cabinet, the COA report showed.

Licuanan received a total pay of P2,581,615, a slight increase from the P2.209 million she received in 2015.

Her total earnings for 2016 included P1.43 million as basic salary, P351.565 in allowances, P272,246 as bonuses and incentives and P336,000 in discretionary funds.

She also received P192,100 as “additional compensation/honorarium” for sitting as chair of the governing boards of 27 state-run universities and colleges.

Although Licuanan was the highest paid member of Duterte’s official family last year, she only landed 342nd on the ROSA list.

Licuanan was the third highest earning Cabinet member of the Aquino administration in 2015, following then health secretary Janette Garin and then budget secretary Florencio Abad.

The second highest paid member of the Duterte Cabinet in 2016 was Health Secretary Paulyn Jean Rosell Ubial, who received a total pay of P2,408,063.31.

Ubial’s salaries and allowances included P943,757.45 as assistant secretary of DOH from January to June 2016 and P1,294,412.14 as secretary for the second half of the year.

The COA noted that Ubial held positions in the governing boards of four government hospitals and as member of the board of other government bodies, including the Commission on Population and the National Dairy Authority, but she did not receive any compensation or salary.

She, however, received P167,393.72 “discretionary sum” as chair of the board of the Philippine Health Insurance Corp.

Robredo’s earnings

On the other hand, Vice President Leni Robredo received a total pay of P1,007,897.80 since she assumed her post on June 30 until end of 2016.

This included P812,256 as basic salary, P12,000 additional compensation and honorarium, P170,376 bonuses, incentives and benefits and P13,265.80 “other” pay.

Robredo used to be a member of the Cabinet as chair of the Home Development Mutual Fund, National Housing Authority, National Home Mortgage Finance Corp., Social Housing and Finance Corp., Home Guarantee Corp. and Housing and Urban Development Coordinating Council but she resigned on Dec. 5.

The COA report showed that Robredo did not receive any salary or allowance as Cabinet member.