THE BASES Conversion Development Authority (BCDA) announced Thursday that the salaries and benefits received by its president and directors had been cut by as much as 72 percent in line with the government's efforts to cut expenses.
It said the annual pay of its president and chief executive officer Rufo Colayco was reduced by 58 percent to P1.79 million a year from P4.27 million, including the basic salary and all other benefits.
The BCDA said it also cut the compensation of its directors by 72 percent to P20,000 a month from about P71,400.
BCDA directors include Alvin Capino, Rafael Julian Azanza, Jesulito Manalo, Ari-den Sebastian, Gerardo Seno, Isaac Puno III, and Florencio Padernal.
A resolution on the pay cuts was passed last Sept. 22 to comply with President Gloria Macapagal-Arroyo's call for austerity in the wake of the current fiscal crisis.
The BCDA said the resolution would take effect on Oct. 1.
The BCDA, created by law in 1992, is tasked with converting former and present military bases into commercial or industrial hubs, and promoting social and economic development of the Central Luzon region in particular and the Philippines in general.
Earlier this week, two top officials of state-owned Philippine National Oil Co. (PNOC) resigned in the wake of a controversy on high salaries of executives in government-owned or -controlled corporations.
Resigned were Rufino Bomasang and Jose Gangan, presidents of PNOC Exploration Corp. and PNOC Petrochemical Development Corp., respectively.
The Subic Bay Metropolitan Authority (SBMA), which runs a free port built in a former American naval base at Subic Bay, said its pay rationalization plan would assure that the annual salaries and benefits of its officials were within the limits set by Malacañang.
SBMA senior deputy administrator Chito Cruz said a memorandum order dated June 25, 2001, specified that the pay package of SBMA officials should not exceed twice the standard rates for comparable national government positions.
Cruz said SBMA Chairman Felicito Payumo received P51,700 a month because he gave P33,342 of his pay to a scholarship support fund.
Cruz said the SBMA had cut the per diem of its directors to P20,000 a month from P60,000 because meetings were now held twice a month instead of thrice