Source: The Philippine Star

MANILA, Philippines – Activist lawyer Harry Roque today said he will ask the Senate to investigate the multi-million “pabaon” package of the Bangko Sentral ng Pilipinas (BSP).

In an interview on dzMM radio, Roque said that the BSP allots at least P1.2-billion in special retirement package for members of the BSP, including its governor and members of the Monetary Board.

“Busug na busog ang mga taga Central Bank dahil sa special retirement package na P1.2 billion annually. Isang pondo ito na kung saan lahat ng employee ay binibigyan ng monthly pasahod buwan-buwan,” the lawyer said.

He explained that based on the special retirement package system, a corresponding amount of a BSP employee’s monthly salary is placed in the fund. The employee will take home his accumulated monthly package once he retires from the BSP, he said.

He added that since the BSP is not covered by the Salary Standardization Law, its employees receive higher than other government employees.

Roque used as an example the BSP governor’s monthly salary of P500,000. He said that every month, aside from receiving his monthly salary, a corresponding amount of P500,000 is placed in the special retirement fund.

He said that the amount would lead to a sum of P6 million in a year and since a BSP governor has a fixed term of six year, he is expected to receive P36 million in retirement package.

Roque said that all BSP employees benefit from the special retirement package, and the BSP governor and members of the Monetary Board receive the highest retirement packages.

Aside from the special retirement package, Roque said that the BSP also has higher-than-usual fund allocations, including P523 million for junkets, P181 million for consultants and P823 million for unspecified expenses.

He said that the Central Bank seems to be “above the law” since it is allowed to have “unspecified expenses,” which is prohibited in other government agencies.

Roque said that special fund allotments in the BSP, including salaries of its officials, are indicated in official documents he obtained from the Commission on Audit.

He said he will submit the documents to the Senate and ask the Senate to conduct an inquiry on the BSP’s alleged “continuing racket.” He said he also plans to pass the same documents to the Office of the Ombudsman, after the impeachment trial of Merceditas Gutierrez.

http://www.philstar.com/Article.aspx?articleId=677012&publicationSubCategoryId=63