Declaration of Policy.
Section 2
SEC. 2. Declaration of Policy. —It is hereby declared to be the policy of the national government to provide equal pay for substantially equal work and to base differences in pay upon substantive differences in duties and responsibilities, and qualification requirements of the positions. In determining rates of pay, due regard shall be given to, among others, prevailing rates in private industry for comparable work. For this purpose, there is hereby established a system of compensation standardization and position classification in the national government for all departments, bureaus, agencies, and offices including government-owned or controlled corporations and financial institutions: Provided, That notwithstanding a standar dized salary system established for all employees, addi tional financial incentives may be established by govern ment corporations and financial institutions for their employees to be supported fully from their corporate funds and for such technical positions as maybe approved by the President in critical government agencies.