(UPDATE) TWO government-owned and -controlled corporations (GOCCs) idle funds will be tapped for unprogrammed appropriations to cover salary increases and benefits for the country's civil servants.
TWO government-owned and -controlled corporations idle funds will be tapped for unprogrammed appropriations to cover salary increases and benefits for the country's civil servants.The Philippine Deposit Insurance Corp. and the Philippine Health Insurance Corp. were asked to remit a combined total of P67.6 billion from their idle funds to finance salary increases and benefits for certain government workers.Of the total, approximately 1.
It also remitted an additional P10 billion to the national government on Wednesday.Earlier this month, budget authorities said that government workers are expected to receive their salary increase within this year.Government agencies may start implementing the increases this month as the first part of the four-tranche salary increase will start this year, retroactive to January 2024, with annual adjustments continuing from January 2025 to January 2027.The initial increase will average 4.
Funds Tapped For Govt Pay Hike
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