News Update from NEB Sonia Brotarlo

[Admin-apcjr]

No matter how good or bad a news is, the LBPEA members deserve to know.

On our latest LBPEA meeting, the following matters were taken up:

1. Anniversary bonus - on or before August 6 as announced during an audience with a top management officer.

The amount would still be the institutionalized figure without any add-on. The reason behind this is that, at present, we have a new set of Board of Directors armed with instructions from Pres. Aquino to implement austerity measures in the government. One of the measures started was to forego snacks during the BOD meetings.

With this development, LBPEAs request for additional bonus this anniversary was disapproved.

2. MIP 3
The COA final exit conference is still ongoing which if finished would be determinative of MIP 3 as to how much and when.

3. Salary Increase
It is not true that this most awaited and controversial component of our payslip has been denied by DBM.

It is still with DBM however factors beyond control like the national election and change in DBM administration in a way caused the delay on the review process. There were documents required by DBM for submission which LANDBANK needed to prepare then like the 5yr FS and requirements for sustainability.

Despite our having a separate charter, we do not enjoy absolute autonomy since we are a government bank under the control of the Executive Branch of the government. Our salary increases are subject to the approval of the President under a Malacanang Order after it is approved by DBM.

4. SOBA on August 2 of Pres/CEO GEP.
Mam Pico is still our President and will take a long while for her to be replaced since there are 150 applicants interested to have her position.

5. PFO new credit facility this August
PFO Board recently approved the proposal of LBPEA for a new credit facility to help Landbankers in paying-off loans to credit card companies, lending institutions and cooperatives. Preparation of the guidelines is ongoing and expected to be out by August.

6. HMO Self Administration
LBPEA held consultative meetings on the prospect of HMO self-administration just like DBP. But a comparative analysis based on historical facts will be prepared to determine its viability.

Finally, we cannot expect the same windfall benefits we received before with the thrust of Pres. Aquino at present. But it will not stop LBPEA from asking and negotiating for other benefits.

Sonia Brotarlo