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Corruption in Philippines Clark Freeport exposed, CDC President Benigno Ricafort raked in php18 Million in 2009

Philippines Daily Inquirer follows up on expose of fat paychecks of CDC President Ricafort what smacks of graft and corruption in Clark Philippines.

Philippines Daily Inquirer published follow-up article titled Subic, Clark chiefs explain fat paychecks; solons shocked, while CDC President Ricafort brushed off the report as “unfair” and failed to submit any other response.

Subic, Clark chiefs explain fat paychecks; solons shocked

for more information and a full article publisehd by Philippines Daily ?Inquirer, log on to http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20100808-285534/Subic-Clark-chiefs-explain-fat-paychecks-solons-shocked

Clark Development Corporation has a reputation among foreign and (especially) local investors as being one of the most difficult government agencies to deal with. Graft and corruption aside, which is not the point of discussion here but probably worthy of coverage in a totally separate but comprehensive report, despite the fat checks and bloated pockets, these top executives do very little to make this precious government asset more productive and successful.

House Majority Leader Neptali Gonzales II said Malacañang should order an “honest to goodness” audit of the pay scales of all GOCCs and government financial institutions (GFIs), as well as allowances received, “inclusive of all representation and travel allowances, to see how big a drain this has become on the [state] coffers.”

He said some officers of GOCCs had not been transparent and accountable, and were not even paying proper taxes.

“They have a lot of explaining to do … for not so huge government enterprises to be able to pay that kind of salary,” Gonzales said, citing the case of Philippine Deposit Insurance Corp., whose officials were said to receive close to P5 million a year in salaries and bonuses.

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