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News :: Labor
Manila: Labor groups visit DBP ‘Fat Cats’
28 Sep 2004
The group criticized Malacañang for not doing tangible actions in the salary issue. They demanded for the reduction and immediate rationalization of the GOCC executives’ wages and perks.
FROM IMC-MANILA

Partido ng Manggagawa (PM) and Bukluran ng Manggagawang Pilipino (BMP) today held a rally to protest the fat salaries and perks of Development Bank of the Philippines (DBP) executives who are among the top record holders in the ‘fat cats list’ in Government Owned and Controlled Corporations (GOCC) for them, DBP officials should not have ‘immunity’ in the government’s austerity call.

Romy Castillo, BMP Vice President said: “In times of crisis the workers and urban poor are urged by the government to make more sacrifice, in fact there had been a wage freeze order from Malacañang. What is ironic is that GOCC executives specifically that of the DBP have immunity to any sacrifices being called on by Malacañang.”

The group criticized Malacañang for not doing tangible actions in the salary issue. They demanded for the reduction and immediate rationalization of the GOCC executives’ wages and perks.

“The last we heard form Malacañang is that the performance of the ‘fat cats’ in GOCC are under review. Which for us is not enough, the working people is not asking for the government to review their performance, what we demand is for these executives to receive lower compensation and kick out ‘fat cats’ proven to be guilty of making state-owned corporations their milking cow” Castillo added.

Meanwhile, PM Campaign Officer Yuen Abana said: “Ms Arroyo should stop tolerating her appointees in GOCCs. She should not consider the vested interest of her political friends in dealing with the salary issue. Years of milk and money for her executives is already enough compensation to their contribution to the success of Ms Arroyo’s political career.” This situation puts a mockery to her “mamamayan muna” policy, making it a “bayad utang muna” policy.

Abana added that DBP officials in 2003 alone roughly totaled P79.8 million in compensation. She said that though DBP charter allows them to increase their salaries it is not just nor rational especially now that the country is in a fiscal crisis.

“The government should amend the charters of the GOCC and include mechanisms that will prohibit unjustified fat salaries. A competitive salary is indeed right, but a fat salaries and perks is questionable since it is wrong considering that they are in government-owned corporation to render public service not to accumulate high salaries.” Abana ended.###

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Re: Manila: Labor groups visit DBP ‘Fat Cats’
28 Sep 2004
PM is a tool of the CIA