Trim excessive bonuses

This is in reaction to the recent investigations made by the Senate Finance Committee on GOCCs, which paved the way to the discovery of obscene allowances and bonuses of their high-ranking and privileged individuals.

While other government employees are slaving their asses off with measly pay to bring home to their families, these GOCC officers are enriching themselves with gargantuan allowances which were actually stolen from our national government and taxpayers. What is even more frustrating is that some of these GOCCs haven’t been very helpful in raising funds for the country and have been, in fact, on the losing side with huge amounts in net losses.

It is, therefore, high time that our government does something to curb such abuses and earn back the trust of its people. SB 2566, filed by the Honorable Senator Franklin Drilon, which will create a monitoring body for the streamlining of the remuneration of the GOCC officers and employees, is a good response to these reported corrupt practices.

While it rationalizes the bonuses of these corporate officers, the bill does not preclude the right of these officers to reasonable compensation, which is also necessary in attracting high-caliber and competent professionals to lead our government corporations. Thus, we are calling on our honorable legislators to prove that their hearts are really in the right place and that they are true to their promise to uphold public interest over private gain by supporting this laudable measure.