Plunder of PNCC Gratuity Fund(8)

COMMISSION on Audit  further enthused that the members of the Philippine National Construction Corporation Retirement Trust Fund board scored a double whammy against hapless PNCC in that as members, simultaneously, of the PNCC

Board (“This Board”), they  also collec-ted  ALLOWANCES and O-THER benefits, as follows (total): Monthly Allowance, P42,921,695.29; Mid-year Bonus, P8,100,000.00;  Christmas Bonus, P5,428,156.40;  Anniversary Bonus,  P1,734,626; Rice Subsidy, P501,5500;  Incentive Performance Bonus, P37,172,543.75; and Productivity Enhancement Incentive,

P130,000.00 – or a grand total of  P95,988,572.39, for CYs 2009 and 2010 only.

And this does not even include RATA (Representation and Transportation Allowances); and reimbursement of Gas and Transportation Allowance.

Since these figures were culled from AVAILABLE do-cuments (e.g., disbursement vouchers and related documents) only (the rest were and continue to be, concealed, per COA Audit Team members), the TOTAL AMOUNT  that  was stashed from PNCC coffers as a consequence of this gratuity fund  mess is your guess that is as good as  Rapidfire’s…

A case of a “sinking ship”  rewarding much of her  purse to officers and favored crew members, as they  prepare to jump into the water, what else!

This gratuity fund caper  provoked the ire of an out-raged  newly-installed PNCC Board, headed by Chair Atty. Rainier B. Butalid, and jol-ted its members to long-neglected/suppressed action.

On June 1, 2011,  Chair Butalid formally required the members of This Board to give their written reaction to COA’s already indicated AOM, and to explain why they should not be required to refund/restitute to PNCC the amounts individually cashed advanced to them from its gratuity trust fund. (To be continued)


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