More good news for Aquino: BSP to remit savings to treasury
Another set of good news fell on President Benigno S. Aquino III’s lap on Thursday when Bangko Sentral ng Pilipinas Governor Amado Tetangco announced that BSP will remit starting January next year around P14.2 billion in dividends and taxes.
Tetangco made the announcement during the launch of the New Generation Banknotes at the Rizal Ceremonial Hall of Malacanang. The new banknotes will begin circulating this month.
Of the P14.2 billion, BSP is ready to remit P9.312 billion by January representing additional dividends for 2003-2006, following a meeting initiated by Senator Franklin Drilon with Finance Secretary Cesar Purisima, Budget Secretary Florencio Abad, Commission on Audit Chairman Reynaldo Villar and Tetangco.
The BSP will remit at least P4 billion more in dividends and additional taxes to the National Government subject to the completion of COA’s audit of BSP’s 2009 operations, representing the remaining 50 percent of its estimated 2009 income.
Tetangco also gave a general report on the economy for the second half of this year.
“Beyond the new designs of our banknotes, there is also good reason to celebrate the sound macroeconomic fundamentals that underpin the real value of the Philippine peso,” Tetangco said. “Inflation is at low single digit levels that are well within our target; the benchmark interest rates set by the Bangko Sentral are at record low levels; we have a sizable balance of payments surplus; our Gross International Reserves are at an all-time high; remittances from our modern day heroes are bound to set a new record this year; our banking system is sound and stable; and our surveys indicate strong confidence in the future by the business sector and Filipino consumers.”
The launching of the New Generation Banknotes, according to Tetangco comes at an auspicious time as 2011 marks the 150th year of National Hero Dr. Jose Rizal and the 25th anniversary of the People Power Revolution.
The new banknotes, he said, took three years to complete from conceptualization to actual printing.
For this New Generation Philippine Banknotes Project, the Bangko Sentral received the support of many who shared the vision of change for the currency. The result is a unified design sensibility arising from a collaboration by Filipino designers Design System and Studio 5 Designs.
The initial batch produced resulted from the collaboration between the De la Rue-Fil Anglo partnership with Oberthur Technologies-Sinophil.
Also for the first time, the seal of the Republic of the Philippines is now part of the banknotes, reinforcing the image of the peso as national symbols. The new logo of the Bangko Sentral ng Pilipinas also makes its first appearance on the banknotes.
Another new feature of the New Generation series is the word “Pilipino” rendered in the ancient baybayin alphabet that doubles as a security feature. Since one-half of the word is printed on the front side and the other half on the reverse side, the word Pilipino in baybayin can be seen only when the banknote is held against the light. (PCOO)
Ochoa orders reinvestigation of Vizconde case
Executive Secretary Paquito Ochoa Jr. on Friday paved the way for the reopening of the investigation of the Vizconde massacre, as he instructed the heads of four key government agencies to tap all resources available at their disposal to bring the perpetrators behind bars.
The memorandum, addressed to Justice Secretary Leila De Lima, Local Government Secretary Jesse Robredo, Philippines National Police Chief Raul Bacalzo and National Bureau of Investigation Director Magtanggol Gatdula was issued Dec. 16, two days after the Supreme Court acquitted Hubert Webb and six others of the gruesome 1991 killings.
“In view thereof, you are hereby directed to conduct a thorough reinvestigation of the case, utilizing all available resources at your disposal to finally solve the same with the end-in-view of apprehending and prosecuting the authors of the crime,” Ochoa said.
“You are likewise reminded of the applicable prescriptive period within which to file the case considering that the crime was committed in 1991,” the Executive Secretary added.
Article 90 of the Revised Penal Code states that crimes punishable with life imprisonment should be prescribed within 20 years from the time the crime was committed.
The Vizconde massacre took place on June 30, 1991. (PCOO)
