MANILA, Philippines – House Speaker Feliciano "Sonny" Belmonte Jr. is supporting any bill that will limit the allowances, bonuses, and incentives of officials serving in government-owned and -controlled corporations (GOCCs).

He said on Thursday that he returned bonuses he got while president of the Government Service Insurance System (GSIS) during the term of then-President Corazon Aquino.

He was also a board member of San Miguel Corporation (SMC) during that time.

“Come Christmas, P7 million iyung bonus ng director and when they gave me my first check, P4 million ata… ako natakot (I was scared),” Belmonte said. “Why should a guy like me have a check like this? I returned it."

He said Malacañang heard about what he did, and Aquino issued an executive order capping allowances and incentives of GOCC executives. 

Belmonte was GSIS president from 1986 to 1992. He served as Quezon City mayor before being elected in Congress.

Other lawmakers have backed efforts to cap the salaries and allowances of the officials and employees of GOCCs and state financial institutions.

Kalinga party-list Representative Abigail Faye Ferriol said GOCCs that become a burden to the government should also be abolished. - with a report from RG Cruz, ABS-CBN News