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Top 10 highest paid gov’t execs, mostly from BSP, earned P104M in 2016 —COA

The top 10 highest paid government officials, mostly from the Bangko Sentral ng Pilipinas (BSP), made P104.013 million in 2016, the latest report by the Commission on Audit (COA) showed on Friday.

Outgoing BSP Governor Amando M. Tetangco Jr. topped the list of highest paid government officials in 2016.

According to the Report on Salaries and Allowances (ROSA), which included government officials and governing members of government-owned or -controlled corporations (GOCCs), Tetangco made P15.912 million last year.

Tetangco's earnings consisted of a basic salary of P7.8 in million, P24,000 of honorariums, P2.778 million of allowances, P2.969 million of bonuses, and P1.039 million worth of discretionary and extraordinary miscellaneous expenses.

Seven other central bank executives made it to the top 10 highest paid gov't officials last year.

Following Tetangco is his successor BSP Deputy Governor for Supervision and Examination Sector Nestor Espenilla Jr., who earned P12.282 million.

BSP Deputy Governor for Monetary Stability Sector Diwa Gunigundo ranked third with P12.248 million. BSP Deputy Governor for Resource Management Sector Vicente Aquino ranked fourth with P12.145 million.

Government Service Insurance System President Robert Vergara, who earned P9.743 million, ranked fifth.

Monetary Board members Juan de Zuñiga Jr. and Felipe Medalla, who respectively earned P8.451 million and P8.375 million, came at sixth and seventh place.

Teresita Herbosa, chairman of the Securities and Exchange Commission, ranked eight with P8.339 million, followed by BSP Assistant Governor Ma. Ramona Gertrudes Santiago with P8.292 million.

Ranked 10th is another BSP executive Valentin Araneta, a member of the Monetary Board, who earned P8.226 million.

The ROSA looks at the total amount of salaries and allowances received by Cabinet officials, principal officers and members of GOCCs, and other officials of national government agencies.

Excluded from the report are the earnings of elected government officials such as the President, senators and congressmen, and local government officials.

A total of 8,729 officials from 981 government agencies were covered by the COA report. — MDM, GMA News