9 from BSP on Top 10 highest paid government officials of 2016

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The top 10 highest paid government officials made a total of P104.013 million in 2016, as per the latest report by the Commission on Audit (COA) showed on Friday.

On the list of ten, mostly are from the Bangko Sentral ng Pilipinas (BSP).

Outgoing BSP Governor Amando M. Tetangco Jr. is the highest paid government official in 2016 as he made P15.912 million.

According to the Report on Salaries and Allowances (ROSA), which included government officials and governing members of government-owned or -controlled corporations (GOCCs), Tetangco’s earnings consisted of a basic salary of P7.8 in million, P24,000 of honorariums, P2.778 million of allowances, P2.969 million of bonuses, and P1.039 million worth of discretionary and extraordinary miscellaneous expenses.

At the number 2 spot is Tetangco’s successor BSP Deputy Governor for Supervision and Examination Sector Nestor Espenilla Jr., who earned P12.282 million.

BSP Deputy Governor for Monetary Stability Sector Diwa Gunigundo ranked third with P12.248 million.

BSP Deputy Governor for Resource Management Sector Vicente Aquino ranked fourth with P12.145 million.

Monetary Board members Juan de Zuñiga Jr with P8.451 million and Felipe Medalla with P8.375 million, came at sixth and seventh place respectively.

Teresita Herbosa, chairman of the Securities and Exchange Commission, ranked #8 with P8.339 million, followed at 9th by BSP Assistant Governor Ma. Ramona Gertrudes Santiago with P8.292 million.

Ranked 10th is another BSP executive Valentin Araneta, a member of the Monetary Board, who earned P8.226 million.

You may have noticed the fifth is missing. Government Service Insurance System President Robert Vergara, the lone official from GSIS on the list dominated by BSP people, ranked fifth with his P9.743 million earned.

The ROSA looks at the total amount of salaries and allowances received by principal officers and members of GOCCs, Cabinet officials, and other officials of national government agencies.

Excluded from the report are the earnings of elected government officials such as the President, senators, congressmen, and local government officials.

Source :

GMA News

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