Governor Amado Tetangco Jr.
Image Source: – Photo: AP / Katsumi Kasahara

MANILA — Bangko Sentral ng Pilipinas (BSP) Governor Amado Tetangco Jr. is the top earner among government officials in year 2011.

A report by the Commission on Audit (COA) stated that Tetangco had  P10.58-million earnings in 2011.

With this big amount, the BSP head received last year a monthly pay of about P900,000.

Tetangco’s pay is almost 10 times that of President Benigno Aquino III whose monthly gross income is P95,000, COA said.

A Cabinet secretary receives at least P90,000 a month under the new standardization law. Before the law took effect, the President received about P50,000 a month, while a Cabinet secretary got a little over P30,000.

The second highest earner in government, COA reported, is Development Bank of the Philippines (DBP) Chief Executive Officer Edgardo Garcia who received a total pay of P9.8 million in 2011.

The government audit agency also reported that aside from Tetangco and Garcia, the other top earners in 2011 are Government Service Insurance System (GSIS) officials Benedicto Arcinas Jr., P8.97 milion; Henry Aguda, P8.35 million; Robert Vergara, P8.32 million; and Nora Saludares, P7.64 million. Other big earners are Philippine National Construction Co. (PNCC) executivel Luis Sison, P7.593 million; DBP executive Benedicto Bitonio, P7.588 million; BSP official Juan de Zuniga, P7.4 million; and BSP Deputy Governor Diwa Gunigundo, P6.977 million.

In the past, Philippine Amusement and Gaming Corporation (Pagcor) officials had been always on top of the list of big earners in the government.

But in 2011, Pagcor Chief Cristino Naguiat Jr. was No. 22 on the list, earning P5.43 million compared with P69 million he received in the six months he served in 2010.

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When President Aquino assumed office on June 30, 2010, Naguiat replaced Pagcor Chief Efraim Genuino, who earned P287.4 million in the first six months of 2010.

Genuino is now facing graft charges before the Pasay City court for alleged anomalies during his administration at Pagcor.

While Tetangco got about the same salary for 2010 and 2011, other officials received salaries smaller than those they got in previous years.

For example, in 2010, former DBP CEO Edgardo Garcia got P11.9 million, which ws higher than the P9.83 million he received in 2011.

Then PNCC president Ma. Theresa Defensor also got P12.5 million, higher than Sison’s income of about P8 million.

Salaries of executives in government-owned corporations are much higher than the average pay of department officials, whose monthly salaries range from P30,000 to P50,000. (Rolly Carandang, Manila Bulletin)