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DBM: Govt employees may get additional P10k holiday bonus

November 29, 2011 12:00pm

Government employees may get an additional P10,000 holiday bonus in the coming weeks if President Benigno Aquino III approves the Department of Budget and Management (DBM)’s proposal for the release of allocations for this purpose.
 
On Tuesday, Budget Secretary Florencio Abad said his department proposed to Malacañang the release of P11.68 billion to fund the additional bonus for the 1.67 million government employees in executive offices in the form of productivity enhancement incentive.
 
“Our improved expenditure and deficit management will allow the national government to authorize the grant of additional bonus to government on top of what they regularly receive,” Abad said in a statement.
 
The additional amount will come on top of regular bonuses in the form of half of their 13th month pay and a P5,000 cash gift. These regular bonuses have already been released since November 15, according to Abad.
 
If approved, the additional holiday bonuses will be given to employees who have rendered at least four months of service in executive agencies, he added.
 
Abad likewise said that the country’s “stable” fiscal situation has allowed the national government to fully shoulder the P10,000 productivity enhancement incentive. For the past years, only P7,000 of the additional bonus would come from the national government, while P3,000 would be derived from the agencies’ savings.
 
“Under this policy, there are agencies who cannot provide their P3,000 share in full or in part, to their employees due to insufficient savings. To be fair to all employees, we are proposing that the full P10,000 will be given to them through the national government,” he said.
 
Employees of government-owned and –controlled corporations (GOCCs) and government financial institutions may also get the additional bonus depending on the sufficiency of their funds, he added.
 
For employees of fiscally autonomous agencies such as Congress and the judiciary, the additional holiday bonus is chargeable to their available savings, he said. Andreo Calonzo/RSJ, GMA News