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Monday, November 18, 2024

Castro calls salaries of central bank executives ‘obscene’

Alliance of Concerned Teachers (ACT-Teachers) Rep. France Castro slammed as “obscene” the hefty salaries paid to Bangko Sentral ng Pilipinas (BSP) executives, calling it a “slap on the faces of struggling teachers, who can hardly make ends meet.”

“It is utterly unacceptable that BSP Governor Eli Remolona, Jr. takes home a net pay of P35.48 million, while our teachers are forced to live on a meager salary that is way below the poverty line,” Castro said.

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Castro was reacting to the 2023 Report on Salaries and Allowances (ROSA) released by the Commission on Audit (COA) recently that showed Remolona topping the list of highest-paid government officials.

Antonio Tinio, the former ACT-Teachers representative, echoed Castro’s sentiments, adding that it is “outrageous that BSP officials are enjoying lavish salaries, while our teachers are forced to work multiple jobs just to make ends meet.”

“It’s a stark reminder of the gross inequality in our society,” Tinio said.

Public school teachers in the Philippines reportedly earn an entry-level salary of between P21,000 to P27,000 at present, according to job search and career community website Glassdoor.

The ACT-Teachers party-list solons along with their fellow cause-oriented lawmakers in the Makabayan bloc have been calling on the government to upgrade the basic salaries of teachers in both public and private schools.

They are recommending the following adjustments: P50,000 for entry-level pay in both public and private schools; P33,000 for salary grade 1 employees; salary grade 6 for instructor 1 in state universities and colleges and P33,000 as national minimum wage.

“We cannot continue to neglect the welfare of our teachers, who are the backbone of our education system. It’s time for the government to prioritize their needs and provide them with a decent salary that reflects their value to society,” Castro said.

 “It’s time for the government to stop prioritizing the interests of the wealthy elite and start prioritizing the needs of our teachers and other public sector employees. It is high time that their demanded salary increases and entry-level salaries be given to them,” Tinio said. 

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