This is in relation to the column of Mr. Emeterio Sd. Perez published yesterday regarding the per diem and bonus checks received by SSS President and Chief Executive Officer Emilio S. de Quiros Jr. for his directorship with Belle Corp. and Union Bank of the Philippines.
We would like to clarify that SSS strictly adheres to Memorandum Circular No. 2012-02 or the Revised Interim Rules on Per Diems and other Compensation Entitlements of members of the Governing Boards of GOCCs covered by R.A. 10149 issued by the Governance Commission for GOCCs.
As stated under Section 3.2 of MC 2012-02, “Ex Officio Directors are generally not entitled to per dierns and other allowable compensations given by the subsidiary or affiliate.” Further, Executive Order 2 “Obliges Ex Officio Directors to remit to the GOCC represented (i.e., parent/Holding GOCC) the per diems and other forms of compensation they may have received or be entitled from the Subsidiaries and Affiliates (“private corporations”) wherein a GOCC has investment.”
The GCC, as the oversight body for GOCCs, religiously monitors our compliance with their issuances. The Commission on Audit could also confirm our compliance with MC 2012-01.
Thank you and we hope we are able to enlighten you on the matter.
Very truly yours,
ARISSU G. BUGANTE, PRESIDENT
Public Affairs and Special Events Division