Diokno releases 4th tranche of salary hike but only for LGU and GOCC personnel
Budget Secretary Benjamin Diokno has allowed the release of the fourth tranche of salary increase but only for employees of local government units (LGU) and government-owned and -controlled corporation (GOCC).READ: PBB 2017 STATUS UPDATE (as of January 18, 2019)
House Majority Leader Rolando Andaya Jr. said Friday he got hold of two circulars of the Department of Budget and Management (DBM) authorizing LGUs and GOCCs to release the fourth tranche of the wage hike to their employees under the Salary Standardization Law.Local Budget Circular No. 118 and Corporate Budget Circular No. 23 were both signed by Diokno on January 15 and took effect on January 1.
Local Budget Circular No. 118 states the amounts required to implement the salary adjustments of LGU personnel shall be sourced exclusively from LGU funds.
Meanwhile, Corporate Budget Circular No. 23 states the amounts required to implement the compensation adjustment shall be charged against their approved corporate operating budgets, provided that the national government shall not release funds for compensation adjustment and the GOCC shall not resort to borrowings for the purpose.