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Clark Freeport Top Executive issues statement to justify his extended stay at top post in Clark Development Corporation

Observers of Clark Philippines affairs curious about CDC Presidentโ€™s eagerness to hang on to his top post at Clark Development Corporation, despite recent scandal of fat paychecks and exorbitant allowances and misc income of some p10 Million received in 2009.

On 6^th August, 2010, Benigno Ricafort, president of Clark Development Corporation issued this statement to all locators โ€“ businesses located in Pampanga Clark Freeport Zone.

โ€œIn light of Executive Order No. 2 issued by His Excellency President Benigno S. Aquino III concerning appointments of heads and executives of government departments, agencies, offices, and instrumentalities including government-owned and controlled corporations (GOCCs) like the Clark Development Corporation (CDC), we wish to convey the following:

โ€ข Members of the Board and Corporate Officers are nominated and confirmed by BCDA (every 2nd Tuesday of April) for 1 year or until such time their replacements are nominated and confirmed, whichever comes first. This is pursuant to the Corporation Law and CDC by laws;

โ€ข Pending any action from the Office of the President of the Republic of the Philippines, it is incumbent upon the existing set of CDC executives to continue functioning and attending to the daily affairs of the Clark Freeport Zone in accordance with laws, rules and regulations which has always been observed since the creation of CDC for the last 17 years; and,

โ€ข Finally, the undersigned and fellow appointed CDC executives have long been prepared for the smooth, prompt and successful transition or turn-over of power to the next set of executive appointees.

The above information is hereby disseminated to address concerns arising from uncertainties and confusion among some stakeholders regarding the interpretation and effect of said Circular with regard to the continuity of service, daily affairs and decision making process of CDC.โ€

Observers of Clark Freeport affairs are surprised that CDC President Ricafort chose to hang on to his post despite recent scandal of fat paychecks and huge misc income and allowances which gave birth to a senate investigation.ย  Many Clark Freeport Zone stake-holders and concerned parties expected Ricafort to exit quickly and gracefully to salvage what remains of his very long career in Clark Freeport Zone.

A report by Philippines Daily Inquirer earlier this month indicated that a COA (Commission Of Audit) report showed that in 2009, Benigno Ricafort received P2.078 million in salary; P832,400 in per diem for sitting on the boards of CDC and Clark International Airport Corp.; P606,056 in representation and transportation allowance; and P396,344 in bonus and incentives or a total compensation of P3.912 million.

The report showed that (Ricafort) also received P10 million in extraordinary and miscellaneous expenses and P497,441 in โ€œother expenses.

Bidq 2122 Elpidio Quirino St., Clark Freeport Zone, Philippines Tel. No.: (6345) 599-9000

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