INQUIRER.net: SC upholds COA findings vs PSALM incentive pay to employees

INQUIRER.net Philippine News for Filipinos

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SC upholds COA findings vs PSALM incentive pay to employees Aug 27th 2013, 22:15 MANILA, Philippines—The Supreme Court on Tuesday upheld the Commission on Audit (COA) decision disapproving the Power Assets and Liabilities Management Corp.'s (PSALM) grant of an incentive pay to its employees in 2008 without approval from the President.   PSALM, the state-owned corporation tasked to dispose of the assets of the debt-strapped National Power Corp. and use the  proceeds to pay off its debts, granted its employees a corporate performance-based incentive equivalent to five and a half months of basic pay, net of tax.   In its weekly en banc meeting, the high court dismissed outright the petition of the PSALM seeking to nullify the COA decision affi... Keep on reading: SC upholds COA findings vs PSALM incentive pay to employees Media files: supreme-court-logo.jpg (image/jpeg)

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