OECD: Align GOCC pay with private sector

Bringing the compensation levels of employees and executives at government-owned and/or -controlled corporations (GOCCs) at par with their private-sector counterparts would help strengthen good governance and financial prudence at state-owned enterprises (SOEs) in the Philippines, according to the Organization for Economic Cooperation and Development (OECD).

- 

"Enhancing the GCG's responsibilities and oversight of GOCCs may support better alignment of GOCCs with the state's financial targets, risk tolerance, and sustainability-related expectations, consistent with the state's ownership policy," the OECD grouping of rich nations said in an April 25 report titled "Supporting state-owned enterprise reform in the Philippines," referring to the Governance Commission for GOCCs.