Clark corporation executives waive benefits-A A +A
Thursday, January 17, 2013
CLARK FREEPORT -- Members of the Management Committee (ManCom) of Clark Development Corporation (CDC) voluntarily waived some of their benefits in support of CDC’s improved fiscal management program initiated by president and CEO Arthur P. Tugade.
In a press statement sent to Sun.Star Pampanga, Vice President Noel Manankil of CDC’s Finance Group, said the state-owned firm is expected to save more than P2 million a year from their benefits with the move by the ManCom.
Proceeds from the savings will be used to purchase a service vehicle that will transport CDC employees to and from the various Freeport entry points.
Coinciding with the 20th anniversary of its organization, the savings will also improve the financial standing of the corporation in terms of personnel services and other operational expenses.
Manankil said gasoline allocation, including their allowances on rice, uniform and communication, are part of the waived benefits.
The CDC ManCom initiative was lauded by the members of the Board, including newly designated chairman Eliseo B. Santiago.
Since assuming the post on December 18, Tugade has conducted a series of meetings to improve the fiscal management of the firm by cutting back on capital and operational expenditures.
The members of the ManCom include the executive vice president, vice presidents, and assistant vice presidents.
Tugade has called on CDC employees to usher in a new culture in the state-owned firm, stressing the need to offer greater service to locators and stakeholders of the Freeport.
The new CDC president said all CDC personnel should be punctual, don a smile, and refuse gifts from locators and applicants. (Reynaldo G. Navales)
Published in the Sun.Star Pampanga newspaper on January 18, 2013.