President/General Manager/Head

P96,000

  Senior Deputy General Manager

81,600

 

1. Cost of living allowance of 40% of basic pay or P300 per month whichever is higher;
2. Children's allowance of P30.00 per child, not to exceed 4 children;
3. Amelioration  allowance of 10% of basic pay;
4. Uniform allowance not exceeding P500 per official/employee;
5. Meal subsidy of P3.00 per day per officer/employee;
6. Medical benefits equivalent to P2,500 per annum per official/ employee subject to forfeiture when not  availed of duriig the year; and
7. Representation and transportation allowances may be authorized by individual corporations for managerial and supervisory positions, subject to approval of the Ministry of the Budget, which shall not exeeed 40% of basic pay.
   
   

1. The increase shall be staggered within the limits of corporate financial performance;
   
2. The implemented total increase in basic salary, allowances and fringe benefits  in  any one year shall not exceed twenty five percent (25%) of the actual total personal services expenses of theimmediately preceding year, adjusted for increases in  staffing;
   
3. An across the board increase of ten per cent (10%) in basic salary shall be immediately implemented for the various corporations, except for senior executive positions where   existing scales exceed those indicated by item no. 4 of this  Letter.  This shall be  considered as an interim measure pending the completion of the position classification study  described under item no. 2 hereof;
   
4. The allowances and/or fringe benefits of senior executives whose basic salary alreddy exceed those specified in item no. 4 hereof may be increased to make up for any difference between actual compensation, now received and the amount otherwise authorized, under this Letter;
   
5. The hiring rate for positions shall be established for each corporation, depending upon its size and profitability.  The initial categorization shall be "A" - the National Power Corporation, "B" - National Irrigation Administration, and "C" - all other corporations;   and
   
6. The implementation schedule for corporations incurring a loss in 1978  shall be prepared by the corporations concerned hand in hand with a profit plan and shall be subject to case to case approval by the Ministry of the Budget.